ASKER, Norway (18 December 2019) – TGS announced today the completion of a new multibeam and coring program covering over 213,0000 square kilometers in the Campos and Santos basins of offshore Brazil. This study, known as a SeepHunter campaign, includes the results of 342 conventional cores and 29 jumbo piston cores and heat probes. Additionally, advanced geochemistry has been performed on over 60 core samples to date.
Kristian Johansen, CEO at TGS, commented, “We are very pleased to have completed this monumental undertaking in Brazil. TGS is making significant investments in geoscience projects in the region, including 2D and 3D regional seismic acquisition. Additional SeepHunter programs are also planned. We will continue to prioritize Brazil as it remains a world class petroleum basin with some of the world’s most exciting oil and gas exploration opportunities.”
In 2018, TGS expanded its Santos 3D program over the prospective southern Santos Basin offshore Brazil. Combined with long-offset 2D seismic surveys over most of the Santos and Campos Basins, the 3D surveys cover an area south of the major oil and gas discoveries in the Santos Basin and the recent highly sought-after blocks offered in Rounds 15 and 16.
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, machine learning 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.
For more information, visit TGS.com or contact:
Dean Zuzic, Chief Financial Officer, Dean.zuzic@tgs.com