TGS-NOPEC announces new Non-Exclusive 3D Survey on the Northwest Shelf of Australia

Exploration success of the Barrow Sub-basin is due to a fortuitous combination of good Mesozoic source rocks, high quality Lower Cretaceous reservoir rocks and a thick and effective regional seal. Oil and gas production has increased steadily since 1985 and the area continues to experience high levels of exploration activity. In addition to the Lower Cretaceous sandstones significant exploration potential exists at other stratigraphic levels, all of which will be effectively imaged by the new survey. The Carnarvon Basin is the premier hydrocarbon producing region in Australia. It is the site of numerous world class oil and gas fields including the NW Shelf LNG project. All of the major players in Australia are active in the Carnarvon Basin. Numerous small to medium size independents are also present.

The 1500 square km Flinders 3D Survey is being acquired and processed through a revenue-sharing agreement with Veritas DGC Inc. (Veritas). The Veritas M/V Pacific Sword has mobilised and will commence acquisition today January 11, 2001. Completion of acquisition is estimated for July 01,2001.

TGS-NOPEC is a leading global provider of non-exclusive seismic data and associated products to the oil and gas industry. Oil companies use this seismic data to explore for and develop oil and gas deposits. TGS-NOPEC specializes in the planning, acquisition, processing, interpretation, and marketing of non-exclusive surveys worldwide. The company places a strong emphasis on providing high quality seismic data and the highest level of service to the industry. TGS-NOPEC also offers proprietary seismic acquisition and processing services, as well as gravity and aeromagnetic surveys.

TGS-NOPEC is listed on the Oslo Stock Exchange (OSLO:TGS).

Click to see Flinders 3D Survey map (pdf – 219k)