TGS announces broadband reprocessing of 2D seismic covering the entire Offshore Portuguese Shelf

23 November 2015

ASKER (23 November 2015) - TGS is pleased to announce the broadband reprocessing of 22,847 km 2D seismic offshore Portugal. This project, which utilizes TGS' broadband solution Clari-Fi™, is now fully underway.

 

"Recent successes in the conjugate offshore Newfoundland and Nova Scotia provinces of Canada have heightened expectations for similar petroleum systems offshore Portugal.  TGS' reprocessing program is expected to provide critical geoscience information to E&P companies as they move to the next phase of exploration along this portion of the Atlantic Margin", commented Stein Ove Isaksen, Senior VP Eastern Hemisphere.

 

This project 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, 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.



Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73

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