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TGS and PGS jointly acquire Dolphin’s multi-client library

14 September 2016OSE

ASKER, NORWAY (14 September 2016) - TGS announced today that it has, together with Petroleum Geo-Services ASA (PGS), agreed principal terms and conditions for jointly acquiring the majority of the multi-client library of Dolphin UK Ltd. The parties expect to enter into a definitive agreement for the acquisition in the near future. 

"The Dolphin library is a good strategic fit for TGS and will add to our already strong position in areas such as the Barents Sea, the North Sea, NW Africa and Australia, including several surveys where TGS currently holds a joint interest with Dolphin.  With this acquisition we are continuing to execute on our active consolidation strategy. This transaction will be the second strategic library acquisition TGS has concluded  in this down cycle, following the purchase of most of the Polarcus library last year," stated Kristian Johansen, CEO of TGS.  "We are excited to enter into this transaction together with PGS, and it positions us well for further cooperation in these prospective areas," he added. 



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