Press Releases

TGS announces major offshore Faroe 2D reprocessing

ASKER, NORWAY (29 March 2011) - TGS announces that it will conduct extensive reprocessing of over 13,550 km of 2D multi-client seismic data located in waters off the Faroe Islands.  This project, designated Offshore Faroe Reprocessing 2011, will extend to the UK/Faroe border.  

The data for the reprocessing has been made available by Faroese Earth and Energy Directorate (Jardfeingi).  TGS will apply advanced processing techniques proven to have been successful in illuminating sub-basalt plays in the West of Shetland region over the last two years.

Data from the project will be available for clients in Q3 2011.  This project is supported by industry funding. 

TGS-Offshore-Faroe-2D-Reprocessing-PR-Map-web

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