Press Releases

TGS and PGS Announce Jeanne d’Arc HD3D in Offshore East Canada

ASKER, NORWAY (20 June 2019) - TGS and PGS announce the Jeanne d’Arc High Density 3D (“HD3D”) multi-client project in Offshore Newfoundland, East Canada.

The project will cover approximately 5,000 km2 and encompasses multiple Exploration Licenses, Significant Discovery Licenses and sections of the open acreage included in the November 2019 bid round. PGS’ Ramform Atlas will perform the acquisition, utilizing their high-resolution Geostreamer® technology.  Acquisition has commenced and is expected to complete in late Q3 2019.

Kristian Johansen, Chief Executive Officer, TGS commented, “This survey will provide our clients with the first comprehensive, high resolution 3D dataset within the mature Jeanne d’Arc basin. This highly productive and prospective area has long been a priority to our customers and we are pleased to provide better data to support future drilling and license rounds.”

The Jeanne d’Arc HD3D survey borders Newfoundland’s prominent producing fields such as Hibernia, Terra Nova, White Rose, North Amethyst and Hebron.

Following this ninth consecutive season of data acquisition in offshore East Canada, the jointly-owned library will have more than 189,000 km of 2D GeoStreamer data and approximately 56,000 km2 of 3D GeoStreamer data. An expansive well log library is also available in the region, along with advanced multi-client interpretation products that will improve play, trend and prospect delineation.

This project is supported by industry funding.

Jeanne DArc 3D

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