ASKER (9 January 2014) - TGS announces four new multi-client surveys; a 3D
survey in offshore Northwest Australia, two 2D surveys offshore Madagascar and a
3D survey onshore Alberta, Canada.
The Huzzas is a 2,100 km(2) 3D survey that will cover the Barrow Sub-basin,
offshore Northwest Australia. The data is being acquired by the M/V Geo Caspian
using CGG'sÂ BroadSeis(TM) and BroadSource(TM) technologies.Â Preliminary data
will be available to clients from Q3 2014.Â Upon completion of this survey, the
total TGS portfolio of 3D multi-client coverage offshore Australia will exceed
The CSM-14 and AN-14 2D surveys cover 8,847 km offshore Madagascar. CSM-14 is
being acquired by the M/V Geo Arctic and AN-14 by the BGP Challenger. Data
processing will be performed by TGS using its Clari-Fi(TM) broadband processing
technology and final data will be available to clients from Q4 2014.
Washout Creek, a 65 km(2) 3D / 3C survey, will cover the West Pembina area of
Alberta, Canada. This high-density survey is designed to assist in the
evaluation and development of the Cretaceous (Cardium, Manville), Jurassic
(Nordegg/Rock Creek), Mississippian (Pekisko) and the Devonian (Duvernay) plays.
Data processing will be performed by Arcis and final data will be available to
clients from Q2 2014.
All four surveys are supported by industry funding.
In addition, TGS has signed a Letter of Award with Polarcus to utilize their
vessel, the Polarcus Naila. Contingent on execution of final contractual
documents, the charter will begin in April 2014 and will last for a period of
TGS-NOPECÂ Geophysical Company (TGS) provides multi-client geoscience data to oil
and gas Exploration and Production companies worldwide.Â 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
For more information visitÂ 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
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:
Chief Financial Officer
Tel: +47 47 60 33 34
Director Investor Relations and M&A
Tel: +1 713 860 2184
This information is subject of the disclosure requirements acc. to Â§5-12 vphl
(Norwegian Securities Trading Act)
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Source: TGS via GlobeNewswire