Two new seismic surveys in Russia
28 July 2005OSE
Naersnes, Norway and Houston, Texas (28 July, 2005) - Russian geophysical companies, partners of TGS-NOPEC Geophysical Company (TGS), have initiated two new seismic programs offshore Russia. In the Sea of Okhotsk near the Sakhalin Island, Partner Dalmorneftegeofizika (DMNG) will acquire 8,000 kilometers of multi-client 2D seismic data. The new program will infill the pre-existing seismic grid in the region and extend the program into the Sakhalin 6 area for the first time. In the Barents Sea, Partner New Geoprojects will acquire 7,000 kilometers of multi-client 2D seismic data.
TGS is pleased that the plan of building up a completely new regional 2D seismic grid in the Russian Barents Sea is materializing and that TGS is chosen as partner to offer these data to market. Many geoscientists believe that the Barents Sea is one of the most prospective petroleum provinces in the world.
Final data on both surveys is expected to be available by year end.
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