ASKER, NORWAY (23 December 2013) TGS has announced the acquisition of a 3D multi-client seismic survey, The Nerites 3D, which covers 8,300 km2 in the Great Australian Bight, offshore South Australia.
The survey, scheduled to commence in early January 2014, will cover two of the newly released petroleum exploration blocks in the Great Australian Bight, designated EPP 44 and EPP 45, which are located mostly in the Bight's deep water Ceduna Sub-Basin.
Upon completion of this survey, the TGS total portfolio of 3D multi-client coverage offshore Australia will exceed 30,000 km2.
The new seismic data will be acquired by the Dolphin Geophysical vessel, M/V Polar Duchess. Data processing will be performed by TGS using its proven Clari-Fi(TM) broadband processing technology. Preliminary data will be available to clients beginning Q4 2014.
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).
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
Chief Financial Officer
Tel: +47 47 60 33 34
Email: kristian.johansen@tgs.com
Will Ashby
Director Investor Relations and M&A
Tel: +1 713 860 2184
Email: will.ashby@tgs.com
Stein Ove Isaksen
Senior VP Eastern Hemisphere
Tel: +47 66 76 99 00
Email: SteinOve.Isaksen@tgs.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.