Asker, Norway (17 February 2020) – TGS, a leading provider of multi-client geoscience data for exploration & production (E&P) companies, has today announced that it has completed the acquisition of its latest 3D survey offshore Senegal, SN-UDO-19. This latest stand-alone survey is located in northern Senegal and follows a further recently completed survey, SS-UDO-19, in the south of the country. Fast track data will be available during the second quarter of 2020. The full dataset will be available by Q4 2020.
Upon completion of SN-UDO-19, the acquisition vessel, BGP Prospector, steamed 200 kilometers north to begin a further survey today to acquire 2,024 square kilometers of 3D seismic data in northern Senegal. Once again in partnership with GeoPartners and Petrosen, the 3D survey, OUP-NORD-20, will cover a block that is currently open and included in the present license round launched in Dakar on 31st January.
The data being acquired will illuminate deepwater fan systems that have already proved effective inboard of the 3D with the Yakaar and Tortue discoveries and will be key to supporting the licensing round across this acreage.
Kristian Johansen, CEO at TGS, commented: “It is great to see that the new data being acquired will be used to unlock the as-yet unexplored deep-water potential of this emerging world-class hydrocarbon basin. We are proud to be bringing this data to our clients in order to enable future discoveries.”
TGS-NOPEC Geophysical Company (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 principle customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products 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.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS). TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".
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