Press Releases

TGS announces 7th airborne survey of gravity, magnetics and oil seep data in Greenland

ASKER, NORWAY (08 June 2011) - TGS will commence acquisition of 42,000 km of magnetics, gravity and oil seep data in Southeast Greenland during Q2 2011.  The total airborne data coverage in Greenland after the 2011 season will be approximately 311,000 km.

"This year's acquisition campaign gives us full data coverage of the most prospective regions of offshore Greenland.  This is the first time TGS has included Seepfinder equipment which will bring a new and important dimension to this regional data set by detecting oil seeps on the sea surface," stated Senior VP Europe & Russia, Kjell E. Trommestad.  Data processing will be performed by TGS and will be available to clients in Q3 2011. 

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