TGS announces award of permit offshore Malaysia

01 April 2016

ASKER, NORWAY (01 April 2016)- As a result of a new initiative by PETRONAS to stimulate offshore E&P investment activity, PETRONAS through Malaysia Petroleum Management (MPM), has taken the decision to open an area of Malaysian offshore waters to the multi-client model for the first time.

A consortium comprising of PGS, TGS and Schlumberger WesternGeco, the industry's three largest multi-client companies, have successfully won the tender for the rights to undertake a multi-client seismic program offshore Sabah.

Offshore Sabah sits in an active fold-and-thrust province that hosts a number of proven hydrocarbon accumulations. An extension of the Brunei Baram Delta play, the primary exploration target has been Miocene deltaics with some younger Pliocene. With exploration and drilling progressing into deeper frontier waters, there is potential for new plays in the carbonate and syn-rift section. This large basin will benefit from modern, high resolution broadband 3D seismic necessary to understand both the existing play concepts and new potential plays.

The consortium is planning to apply a combination of the industry's most advanced technology solutions including multi-sensor acquisition using PGS' GeoStreamer® and WesternGeco IsoMetrix* marine isometric seismic technology, PGS' Towed Streamer ElectroMagnetic technology and advanced broadband 2D acquisition and processing techniques.

*mark of Schlumberger

Malaysia PR


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