Press Releases

TGS commences a third multi-client 3D survey in Barents Sea in 2011

ASKER, NORWAY (17 October 2011) - TGS has commenced acquisition of a 3D multi-client survey covering 1,500 km2 between the Finnmark Platform and Nordkapp Basin in the Barents Sea.  The 150 km long survey follows the bended strike direction of the inverted margin between the two major structural elements in the region.

"We believe the survey will be instrumental in reducing trap risk on the  narrow structural trend stretching east to the border of the previously disputed zone between Norway and Russia," commented Kjell Trommestad, Senior Vice President and General Director of Europe and Russia for TGS.

The new seismic data is being acquired by the M/V Polar Duke.  The data will be processed by TGS and available to clients by Q2 2012.  

The survey is supported by industry funding.

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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