TGS commences acquisition of Sophie’s Link 3-D survey in Gulf of Mexico
20 June 2005OSE
Houston, Texas (20 June, 2005) - TGS-NOPEC Geophysical Company ("TGS") announced today that it has commenced the acquisition of a new multi-client 3-D survey in the Gulf of Mexico. The survey, known as "Sophie's Link" will bridge the gap between TGS' ongoing 400 OCS block Deep Resolve Survey and its 627 OCS block Mississippi Canyon 3-D survey.
Containing approximately 55 OCS blocks of ocean bottom cable data and 140 OCS blocks of streamer data, Sophie's Link is being recorded with 9000-meter offsets and processed with both pre-stack time and pre-stack depth migration algorithms.
"We are pleased with the pre-funding and level of customer interest in this program," said Hank Hamilton, CEO of TGS. "The quality of the images we are delivering from our Deep Resolve and Mississippi Canyon projects is clearly stimulating demand for expanded high resolution 3D coverage." Sophie's Link is located in an area of significant deep gas drilling activity as well as sub-salt exploration success. Water depths within the survey area range from 20 to 1,000 meters.
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