TGS-NOPEC announces new seismic survey in west Greenland
31 August 2005OSE
Naersnes, Norway and Houston, Texas (31 August, 2005) - TGS-NOPEC Geophysical Company ("TGS") has commenced acquisition of a new multi-client 2D survey offshore west Greenland. The 7,000 kilometer program infills existing TGS seismic grids in the Lady Franklin Basin and Discos Island area but also extends into the northern Labrador Sea to investigate new structural graben trends. Upon completion, TGS will have over 34,000 kilometers of modern 2D seismic available offshore west Greenland. The program is highly prefunded by industry. Data delivery to clients will begin in the 4th quarter of 2005 and extend into early 2006.
TGS-NOPEC Geophysical Company (TGS) is a leading global provider of multi-client geoscientific data, associated products and services to the oil and gas industry. TGS specializes in the creation of non-exclusive seismic surveys worldwide. The company also provides advanced depth imaging solutions and software through its TGS Imaging division. A2D Technologies, a wholly-owned subsidiary, is the energy industry's well log data marketplace offering the largest online database, immediate delivery, conversion services, data management services and worldwide well log data sourcing. The TGS family of companies places a strong emphasis on providing high-quality data and the highest level of service to the industry. All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason. TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).
John AdamickSenior VP, Geological Products and Services
Tel: +1 713 860 2100