Contact Information: For additional information about this news release please contact: Karen El-Tawil VP, Business Development Tel: +1 713 860 2100 Email: Arne Helland Chief Financial Officer Tel: +47 66 76 99 31/+47 91 88 78 29 Email: Kim Abdallah VP New Ventures Africa Middle East Tel: +1 713 860 2120 Email:
ASKER, NORWAY--(Marketwire - September 16, 2009) - TGS-NOPEC
Geophysical Company (TGS) announced today that it has signed an
agreement with the National Oil Company of Liberia ("NOCAL") to acquire
15,000 kilometers of long-offset regional 2D
seismic, gravity, and magnetic data over the ultra-deep waters located
offshore Liberia. This new multi-client survey is expected to
commence in the fourth quarter of 2009, given sufficient industry interest.
Offshore Liberia has attracted significant industry attention due to
recently announced discoveries in the Gulf of Guinea.
"TGS has been acquiring data along this margin since 2000 and is pleased to
expand our data coverage in Liberia. It has been extremely rewarding to see
the value being generated from our activities for both the local region and
the oil and gas industry in general over this extended period," said David
Hicks, VP of Africa, Middle East and Far East for TGS.
The Liberia Ultra-Deep Program will extend existing TGS multi-client data out to 4000
meters of water. NOCAL is expected to announce a licensing round following
the acquisition and processing of the data.
TGS-NOPEC Geophysical Company (TGS) is a principal resource for global
geoscientific data products and services in the E&P industry. TGS
specializes in the design, acquisition and processing of multi-client
seismic surveys worldwide and delivers advanced high performance seismic
imaging and software solutions. The Company also provides the world's
largest online well-log database, well data management services,
multi-client interpretive products and subsurface consulting services to
industry. The suite of integrated exploration data products available from
TGS is distinctive and unmatched. The Company philosophy is to create
unique high-quality data collected in the right place at the right time.
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 ).