ASKER, NORWAY — (Marketwire) — 10/17/11 — TGS has commenced acquisition of a 3D multi-client survey covering 1,500 km2 between the Finnmark Platform and Nordkapp Basin in the Barents Sea. The 150 km long survey follows the bended strike direction of the inverted margin between the two major structural elements in the region.
“We believe the survey will be instrumental in reducing trap risk on the narrow structural trend stretching east to the border of the previously disputed zone between Norway and Russia,” commented Kjell Trommestad, Senior Vice President and General Director of Europe and Russia for TGS.
The new seismic data is being acquired by the M/V Polar Duke. The data will be processed by TGS and available to clients by Q2 2012.
The survey is supported by industry funding.
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 .
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).
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