TGS Announces Three New Offshore Multi-client Surveys

ASKER (1 August 2013) - TGS announces three new multi-client surveys; a 3D survey in UK West of Shetlands and two 2D surveys offshore Newfoundland- Labrador. Rona Ridge 2013 (RR13) is a 2,420 km(2) 3D survey that will provide the industry's first 3D data in the highly prospective UK West Shetland Basin.  Data processing will be performed by TGS with initial data available to clients in Q4 2013 ahead of the UK 28(th) Licensing Round...

ASKER (1 August 2013) - TGS announces three new multi-client surveys; a 3D survey in UK West of Shetlands and two 2D surveys offshore Newfoundland-Labrador.

Rona Ridge 2013 (RR13) is a 2,420 km² 3D survey that will provide the industry's first 3D data in the highly prospective UK West Shetland Basin.  Data processing will be performed by TGS with initial data available to clients in Q4 2013 ahead of the UK 28^th Licensing Round.

The Labrador Sea Deep Basin 2D survey covering 3,000 km and the Labrador Sea 2D Infill survey covering 7,100 km will complement and infill the existing 22,167 km of 2D data acquired in 2011 and 2012. These surveys will further define and delineate the Henley, Chidley and Holton Basins. Both surveys will be acquired in partnership with PGS and utilize the PGS GeoStreamer^® technology. Data acquisition will commence in August 2013 and initial data will be available to clients Q2 2014.

All three surveys are supported by industry funding.

 

Company summary     

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, permanent reservoir monitoring and data integration solutions.

For more information visit TGS online at www.tgs.com.

 

Forward-looking statements and contact information

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 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".

For additional information about this press release please contact:

Kristian Johansen
Chief Financial Officer
Cell: +47 47 60 33 34
Email: [email protected]

Will Ashby
Director Investor Relations and M&A
Tel: +1 713 860 2184
Email: [email protected]

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

Copyright Thomson Reuters

Regulatory News
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: %s via Thomson Reuters ONE


[HUG#1720336]