TGS Signs Letter of Intent for 3D Capacity for 2016

ASKER, NORWAY (10 June 2015) - TGS announces that it has signed a Letter of Intent ("LOI") with Polarcus to charter up to 10,000 sq. km of 3D vessel capacity for 2016. The details of the individual projects to be completed under this charter will be announced separately. Company summary TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide...

ASKER, NORWAY (10 June 2015) - TGS announces that it has signed a Letter of Intent ("LOI") with Polarcus to charter up to 10,000 sq. km of 3D vessel capacity for 2016.

The details of the individual projects to be completed under this charter will be announced separately.

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, 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
COO/Interim CFO
Cell: +47 47 60 33 34
Email: [email protected]

Will Ashby
Director Finance Western Hemisphere & Investor Relations
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)

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