Press Releases

New TGS multi-client 3D survey in the Faroe-Shetland Basin

ASKER, NORWAY (2 August 2011) - TGS has commenced a new multi-client 3D survey in the Faroe-Shetland Basin.   The survey covers 2,500 km2 west of the British Isles over quads 6004, 204 and 205 and is acquired in partnership with PGS.  

The new seismic data is being acquired by the PGS Ramform Viking towing 12 X 6,000 m with 75 m separation and utilizes PGS' GeoStreamer® Technology.  Data acquisition will continue through Q3 2011 and the vessel will return in 2012 to complete the survey.   Data processing will be performed by both TGS and PGS.  "This is TGS' first investment in a 3D multi-client seismic program west of the British Isles, located in an area with a number of discoveries and further undiscovered hydrocarbon  potential," stated Kjell Trommestad, SVP Europe & Russia for TGS. 

The survey is supported by industry funding.

About TGS

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

Sven Børre Larsen

Chief Financial Officer

Tel: +47 90 94 36 73

Ellen Munkvold

Ellen Munkvold

IR Coordinator

Tel: +47 97 76 26 25