TGS announces three new offshore multi-client surveys
01 August 2013OSE
ASKER (1 August 2013) - TGS announces three new multi-client surveys; a 3D survey in UK West of Shetlands and two 2D surveys offshore Newfoundland-Labrador.
Rona Ridge 2013 (RR13) is a 2,420 km2 3D survey that will provide the industry's first 3D data in the highly prospective UK West Shetland Basin. Data processing will be performed by TGS with initial data available to clients in Q4 2013 ahead of the UK 28thLicensing Round.
The Labrador Sea Deep Basin 2D survey covering 3,000 km and the Labrador Sea 2D Infill survey covering 7,100 km will complement and infill the existing 22,167 km of 2D data acquired in 2011 and 2012. These surveys will further define and delineate the Henley, Chidley and Holton Basins. Both surveys will be acquired in partnership with PGS and utilize the PGS GeoStreamer®technology. Data acquisition will commence in August 2013 and initial data will be available to clients Q2 2014.
All three surveys are supported by industry funding.
TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.
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 product 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).
TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".
Kristian JohansenChief Executive Officer
Tel: +1 832-667-4795
Will AshbySVP Investor Relations, HR & Communication
Tel: +1 713 860 2184