TGS announces new multi-year, multi-client project Northeast Greenland

25 June 2014OSE

ASKER (25 June 2014) - TGS will commence acquisition of a new multi-year, multi-client 2D program offshore Northeast Greenland. The project will be fulfilled over a maximum of four seasons, bringing TGS' total multi-client database in Northeast Greenland to more than 36,000 km. Data acquisition for the first season will commence in August 2014. 

"This data will provide companies with dense coverage over awarded license blocks and will lead to better regional understanding.  The commitment to this multi-year program with its accompanying strong customer support is confirmation of TGS' strategy in growing our library in this region over the past several years" commented Stein Ove Isaksen, Senior VP Eastern Hemisphere for TGS.

Data processing will be performed by TGS using its proven proprietary broadband technology, Clari-FiTM. The first season of data will be available to clients in Q1 2015.

The survey is 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.



Kristian Johansen
Chief Executive Officer
Tel: +1 832-667-4795

Will Ashby
SVP Investor Relations, HR & Communication
Tel: +1 713 860 2184

Stein Ove Isaksen
Senior VP Eastern Hemisphere
Tel: +47 66 76 99 00