TGS signs contract with WGP Survey Ltd for 3D survey in northwest Europe
05 March 2014OSE
ASKER, NORWAY (5 March 2014) - TGS announces that it has signed a contract with WGP Survey Ltd to partner on a 3D multi-client project in the Barents Sea during the 2014 summer season. The project is expected to cover an area of approximately 500 km2 and will utilize WGP Survey Ltd's High-res 3D P-CableTM technology. The details of the project to be completed under this charter will be announced separately.
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 JohansenChief Executive Officer
Tel: +1 832-667-4795
Will AshbySVP Investor Relations, HR & Communication
Tel: +1 713 860 2184