HOUSTON, Texas (30 October 2019) – TGS announced today a new 3D multi-client project offshore Argentina. The Malvinas 3D survey will cover approximately 7,300 square kilometers of highly prospective Malvinas Basin, which saw spirited interest during Argentina Round 1 earlier this year. The survey will employ one Shearwater vessel, with operations set to commence in Q4 2019 and run until Q2 2020. Initial products will be available in early 2021, with final products slated for H2 2021.
Kristian Johansen, CEO at TGS, commented, “We are very pleased to announce this offshore Argentina project. The Malvinas MC3D survey clearly supports TGS’ growth initiative in the South Atlantic and will build on the great momentum seen by the previous Spectrum 2D campaign in helping to open up this frontier area for further exploration. We will continue to prioritize this high potential region and look forward to playing a dynamic role in future developments.”
The project is supported by industry funding.
TGS operates as NOPEC Geophysical in Argentina.
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.