TGS Announces 3D Multi-client Survey in Gulf of Mexico

HOUSTON (14 December 2012) - TGS commences a 3D multi-client survey covering 7,000 km(2) in the Central Gulf of Mexico. The survey, Amerigo 3D, is located in the eastern side of the Central Gulf of Mexico through the Lloyd Ridge, Desoto Canyon and Atwater Valley areas. "We are pleased to extend our 3D coverage in the Central Gulf of Mexico...

HOUSTON (14 December 2012) - TGS commences a 3D multi-client survey covering 7,000 km² in the Central Gulf of Mexico.

The survey, Amerigo 3D, is located in the eastern side of the Central Gulf of Mexico through the Lloyd Ridge, Desoto Canyon and Atwater Valley areas.

"We are pleased to extend our 3D coverage in the Central Gulf of Mexico.  This survey enables TGS to leverage our existing adjacent 3D data while utilizing12,000 meter offsets to allow for a deeper image in this attractive  play.  Industry support of the new survey indicates increasing interest to explore in this region," commented Rod Starr, Senior VP Western Hemisphere for TGS.

The seismic data is being acquired by a Fugro C-class vessel and will be complete Q2 2013.  Data processing will integrate the new Amerigo data with TGS' modern, adjacent 3D data and apply TGS' newest broadband processing technology, Clari-Fi(TM).  Preliminary data will be available to clients Q3 2013.

The survey is 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).

For additional information about this press release please contact:

Kristian Johansen
Chief Financial Officer
Office: +47 66 76 99 00
Cell: +47 47 60 33 34
Email: [email protected]

Will Ashby
Director Investor Relations and M&A

Office: +1 713 860 2184
Email: [email protected]

Rod Starr
Senior VP Western Hemisphere
Tel: +1 713 860 2100 begin_of_the_skype_highlighting  end_of_the_skype_highlighting
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#1664917]