Press Releases

TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brasil

 HOUSTON (21 February 2019) – TGS announces a new multi-client 3D seismic survey in the Campos Basin in Brazil. The survey will cover approximately 11,200 km2 within the granted permit area and will be acquired by Shearwater with the Amazon Warrior.

 The survey will provide contiguous 3D coverage over the highly prospective Brazil Round 16 blocks located in the outer Campos Basin. TGS will utilize advanced imaging (RTM) and velocity model building (FWI) technologies to create accurate and high-resolution images of the prolific Pre-Salt objectives.

 Fast Track products will be available in Summer 2019 ahead of Round 16 with final products available in Q2 2020.

“With our third multi-client program in Brazil over the past year, the Campos 3D confirms TGS’s commitment to the country and solidifies the continued expansion of our high-quality and timely exploration products in the Brazilian Salt Basins. The project fits well with our strategy of increasing our footprint in the prolific basins in the South Atlantic region”, states Kristian Johansen, TGS CEO. “Furthermore, the survey provides additional visibility to our guided multi-client investments for 2019, with more than USD 200 million already committed”

 This project 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