HOUSTON, Texas – (11 May 2021) – TGS, a global provider of energy data and intelligence, today announced that it has commenced acquisition of Pelotas 2D multi-client phase 3 offshore Brazil.
The survey located in the Pelotas Basin covers approximately 17,000 line kilometers and works as an extension of the existing TGS Pelotas 2D. This survey is designed to provide high quality 2D data that will enhance geological understanding of the area allowing clients to de-risk investments in future bid rounds, such as the upcoming Round 17.
"We’re pleased to commence Phase 3 of this survey – further strengthening our data library and position offshore Brazil. We are proud to provide time-sensitive data ahead of Round 17 while continuing to build a contiguous and regularized 2D grid along the Atlantic Margin. Early outs will be ready in two tranches (June and July 2021) to allow our clients to analyze the data well ahead of the upcoming license round,” commented David Hajovsky, EVP of Western Hemisphere, at TGS.
TGS currently holds over 447,500 kilometers in 2D multi-client data and 69,500 square kilometers in 3D multi-client data in Brazil.
TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.
Forward Looking Statement
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, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices. 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.
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