Nærsnes, Norway, April 6, 2001 - TGS-NOPEC Geophysical Company ASA (OSLO:TGS) today announced a plan in co-operation with WesternGeco to acquire a new non-exclusive 3D survey in Norwegian Sea starting in April/May.
The survey will cover an area of 2000 square kilometres mainly over open acreage and is based on TGS-NOPEC’s non-exclusive 2D data base acquired in 1997 in the same area. Water depth is in the range of 1000 to 1300 m.
The survey will be jointly financed and owned by TGS-NOPEC and WesternGeco. Several oil companies have committed to pre-fund the project.
The data will be acquired and processed by WesternGeco under joint supervision in accordance with the Scandinavian Co-Operation Agreement between the two parties.
Final data from the survey will be made available to the oil industry for their preparation work prior to the 17th licensing round on NCS.
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.
WesternGeco is a leader in integrated exploration and reservoir imaging services, providing worldwide seismic acquisition, processing, and multiclient surveys. Headquartered in London, WesternGeco is a joint venture between Schlumberger and Baker Hughes.