TGS Announces New Multi-Client 3D Survey West of Shetland

ASKER, NORWAY--(Marketwired - Jun 17, 2014) -  TGS has commenced acquisition of a new 3D multi-client survey in the West of Shetland region.

The survey will cover 2,500km² and will tie into TGS' existing 3D library in the region, bringing the total volume of recent TGS 3D in the area to more than 17,500 km².

"TGS is pleased to announce the industry's first 3D data over the Brendan Basin in UKCS Quad 219," commented Stein Ove Isaksen, Senior VP Eastern Hemisphere for TGS. "This confirms our strong presence in the West of Shetland region."

The broadband seismic data will be acquired by the M/V Polarcus Naila towing 12 streamers at 6,000 m cable length. Data processing will be performed by TGS using its proven proprietary broadband technology, Clari-Fi™. Initial data will be available to clients in 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".