Press Releases

TGS announces its first multi-client 3D survey in Indonesia

PERTH, AUSTRALIA (22 December 2010) - TGS will commence a new multi-client 3D survey in the Tarakan Basin, offshore East Kalimantan, Indonesia in the Celebes Sea.  The survey, TBN10, is the first ever multi-client 3D survey for TGS in Indonesia waters and will cover in excess of 1,600 km2.  The data will be acquired by the M/V Seisquest and will commence before the end of this year, with acquisition expected to complete in Q1 2011.

The TBN10 survey will be conducted over the highly prospective and extensive play fairway which includes a recent gas discovery. The new 3D seismic will provide improved stratigraphic and structural resolution of the Tarakan sub-basin, leading to a better understanding of its petroleum system and a much clearer definition of the numerous leads and prospects already identified on existing 2D seismic in the area.   

"TGS is particularly excited to announce this new 3D program, stated CEO Robert Hobbs.  The company has built significant experience in this region through our long-term investment in data that informs our customers about the potential of this frontier region.  This 3D project confirms the further maturation of this important hydrocarbon province."

The TBN10 multi-client 3D survey is supported by industry funding and also supports the Indonesia government's overall objective to attract exploration and raise declining production levels.

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