Press Releases

TGS expands 2D seismic data in the Sundaland Margin, offshore Indonesia

PERTH, AUSTRALIA (29 November 2010) - TGS announces a second 2D seismic survey offshore Indonesia Southwest Sumatra (SMi10) in the forearc basin along the Sundaland Margin. The survey will add 2,700 km of new 2D data to infill the existing 6,900 km of multi-client data acquired in 2009.  

The previous seismic in the area has revealed a thick sequence of potential reservoir and source rock in the Mentawai-Bengkulu forearc basins, confirmed by a large gravity anomaly.  The newest SMi10 project will aid in mapping three unique seismically defined plays along this trend.  

Data acquisition of the SMi10 survey is underway with the MV Northern Explorer and is expected to be completed by the end of Q4 2010.  The resulting grid of modern 2D data will enable companies to evaluate blocks recently announced by Migas in the 2010 Second Bid Round, with additional blocks in Southwest Sumatra expected to be announced in subsequent bid rounds during 2011.

TGS maintains the industry's largest multi-client data library in Indonesia. Upon completion of the SMi10 survey, the library will include 115,000 km of 2D seismic, 400,000 km of multi-beam bathymetric data and 1,200 core samples covering over one million km2 of Indonesia's deep water basins.  

The survey is supported by industry pre-funding and also supports the Indonesia government's overall objective to attract exploration and raise declining production level.

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