Press Releases

TGS expands 2D multi-client seismic data library in Northwest Europe with three surveys

ASKER, NORWAY (18 May 2011) - TGS commences the 2011 summer season with three 2D surveys in cooperation with Fugro; North Sea Renaissance 2011(NSR11), Mid-Norway Regional 2011 (MNR11) and Norwegian Barents Sea 2011 (NBR11).  The data to be collected includes approximately 10,000 km for NSR11 which is a regional infill West of Shetland utilizing the M/V Bergen Surveyor, approximately 10,000 km for MNR 11 which is a regional infill in the Norwegian Sea utilizing the M/V Akademik Shatskiyand approximately 10,000 km for NBR11 which is a regional infill in the Barents Sea utilizing the M/V Akademik Lazarev.

The above mentioned projects will enable TGS to continue building on the successful regional long offset grid in NW Europe.  Upon completion of the 2011 acquisition season, the long offset grid will total approximately 285,000 km.  The new long offset projects together with the previous year's programs will be important for companies in the early exploration phase as well as for license round preparation in both Norway and the UK.  
The data will be jointly processed by TGS and Fugro and time and depth products will begin to be delivered later this year.   Completion of all three projects is scheduled for the end of Q1 2012.  

These projects are supported by industry funding.

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