Oslo, Norway, September 20th, 2002- Crown Minerals, the New Zealand Government Petroleum Licensing Authority, will host a series of seminars to promote the New Zealand Deepwater Taranaki bidding round. The seminars will provide an overview of the New Zealand petroleum regime and the potential of the Deepwater Taranaki region. TGS-NOPEC will be presenting the results from its recently completed Astrolabe 2D Seismic Survey. The seminars are scheduled for Singapore on 27 September, London on 30 September and Houston on 3 October.
The Astrolabe survey provides a regional grid of modern high quality seismic data (including eight well-ties onto the shelf and one to the Northland Basin) in this frontier region, which is adjacent to the giant Maui oil and gas field. The data will be available as part of a data package released in conjunction with the bidding round.
The 2D seismic survey has demonstrated the presence of thick sedimentary successions (up to 9 km) and identified large traps (~200 sq km). Trapping mechanisms include fault closures, drapes across rift block highs and inversion structures created by compression during the Eocene.
The deep-water Taranaki is a Cretaceous play, different to traditional (Kapuni) plays on the shelf.
Information about the upcoming round offshore New Zealand can be found on the home page for Crown Minerals http://www.crownminerals.govt.nz/.
Detailed information regarding the Astrolabe Survey can be found on the TGS NOPEC website at: http://www.tgsnopec.no/whatsnew/frame_license_rounds.htm.
TGS-NOPEC is a leading global provider of multi-client geoscience data and associated products and services to the oil and gas industry. TGS-NOPEC specializes in the planning, acquisition, processing, interpretation and marketing of non-exclusive seismic surveys worldwide. A2D Technologies, a wholly owned subsidiary, pioneered the delivery of digital well log data over the Internet and currently offers a one-of-a-kind integrated solution for well log data sourcing, well log data management, and well log correlation. The TGS-NOPEC group places a strong emphasis on providing high-quality data and the highest level of service to the industry.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. Such factors include any significant change in the oil and gas business or the economy.TGS-NOPEC is listed on the Oslo Stock Exchange (OSLO:TGS).
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