TGS announces LOA for 3D surveys in Northwest Europe
09 April 2015OSE
ASKER, NORWAY (9 April 2015) - TGS announces that it has signed a Letter of Award (LOA) with Polarcus DMCC to acquire 3,000 km2 of 3D seismic data in Northwest Europe with a potential extension of up to a total of 7,000 km2. The activity is expected to commence in April 2015 subject to the issuance of seismic acquisition permits from the relevant authorities.
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, 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