Press Releases

TGS Announces the Atlantic Margin 2019 Survey in the Norwegian Sea

ASKER, NORWAY (4 June 2019) TGS announces today the Atlantic Margin 2019 3D multi-client project in the Norwegian Sea. The survey will cover approximately 8,000km2 and will be acquired by Shearwater using the vessel Polar Duchess. This vessel has an acquisition specification designed to secure recording of refracted wavelets at target depths for full waveform inversion (FWI), while triple source will ensure high spatial resolution.

The 2019 acquisition will mainly cover open acreage available in the yearly APA licensing rounds. This area covers several play models with proven hydrocarbon systems in multiple geological layers. However, it presently has little existing and no modern 3D data available. Fast-track data will be available by Q4 2019 and final product delivery is planned for Q3 2020.

 “We are very pleased to announce this continuation of the Atlantic Margin 2017 and 2018 acquisition. The entire Atlantic Margin project will now cover more than 50,000kmof the Norwegian Sea, and will provide the industry with the highest quality data in advance of scheduled licensing rounds in Norway. We will continue to prioritize this high potential region, and look forward to playing a dynamic role in future developments so that we can continue to help E&Ps make better drilling and investment decisions,” said Kristian Johansen, CEO of TGS. 

 

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