Press Releases

TGS announces new 3D multi-client seismic survey offshore Northwest Australia

PERTH, AUSTRALIA  (10 October 2011) - TGS will commence acquisition of a new 3D multi-client seismic survey in November 2011 which covers 9,700 km2 over the Exmouth Plateau in the Carnarvon Basin, offshore NW Australia.  The survey area is adjacent to existing large gas discoveries and covers newly available acreage in blocks WA-364-P, WA-365-P and WA-367-P.  

"Regulatory changes in Australia make this market more attractive for multi-client investment and TGS is excited to acquire seismic data in this new market, an area where industry believes there is high exploration potential. This Australia 3D project is consistent with our strategic plan and represents a new milestone of growth for TGS in a promising region," commented Rod Starr, Senior VP Africa, Middle East and Asia Pacific for TGS. 

The seismic data will be acquired by the M/V Viking Vision and will be complete in Q1 2012.  A fast track volume will be available to the industry in Q2 2012 with final data available for the full survey in Q1 2013.  The survey is supported by industry funding. 

Mary Rose 3D Ext 120911 (1)

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