TGS Announces Expansion of Multi-client 3D Survey in the Faroe Shetland Basin
ASKER, NORWAY (6 June 2012) - TGS commences expansion of a 3D multi-client
survey covering 2,000 km(2) in the Faroe Shetland Basin spanning the UK Faroe
median line. Â The acquisition is in partnership with PGS and is completion of
the previously announced FSB11 survey.
The new seismic data is being acquired by the PGS Ramform Viking towing 12 X
6,000 m with 75 m separation and utilizes PGS' GeoStreamer® Technology.  The new
3D data will play a critical role in the development of the Cambo and Tornado
fields and provides new data coverage across exploration blocks applied for in
the recent UK 27(th) License Round.
Data processing will be performed by both TGS and PGS and be available to
clients in Q2 2013. The survey is supported by industry funding.
Company summary
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data and
services to oil and gas Exploration and Production companies around the globe.
TGS' geophysical and geological data products include multi-client seismic
libraries, permanent reservoir monitoring, magnetic and gravity data, the
industry's largest global database of digital well logs and regional
interpretive products. TGS also provides high-end depth imaging services to help
resolve complex seismic imaging problems. 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: kristian.johansen@tgs.com
Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Email: karen.el-tawil@tgs.com
Stein Ove Isaksen
Senior VP Eastern Hemisphere
Office: +47 66 76 99 00
Email: steinove.isaksen@tgs.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
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: TGS via Thomson Reuters ONE
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