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TGS announces two new projects in the Norwegian Barents Sea

24 April 2014OSE

ASKER, NORWAY (24 April 2014) - TGS commences new 2D and 3D multi-client projects in the Norwegian Barents Sea. Both surveys will provide customers with high quality data prior to the closing of the 23rd Norwegian Licensing round.

The HFCE14 is a 3,100 km2 3D multi-client survey, extending TGS' existing multi-year 3D Hoop coverage to more than 20,000 km2. The survey will be acquired by the M/V GECO Eagle towing 10 streamers and will cover similar Jurassic targets as the new Wisting light oil discovery. 

NBR14 is an extension of TGS long offset 2D grid in the Barents Sea, adding 6,600 km to the existing data library.  The survey will cover the Eastern part of the Norwegian Barents Sea, including the newly opened area in the former disputed Norway-Russia zone. M/S Academik Shatskiy will acquire the data utilizing broadband technology.

Data processing will be performed by TGS using its Clari-FiTM broadband processing technology and final data will be available to clients from Q4 2014.

The 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.



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

Will Ashby
Vice President HR & Communication
Tel: +1 713 860 2184