Charters Additional Vessel Capacity for West Africa Opportunities
(Thomson Reuters ONE) -
HOUSTON (12 July 2010) - TGS announces that it has chartered additional vessel
capacity to address its multi-client opportunities in West Africa. TGS has
chartered Fugro's Geo-Caribbean for approximately seven (7) months to acquire
multi-client programs in West Africa. The Geo-Caribbean is a modern vessel
capable of towing twelve (12) long offset streamers. It is anticipated that TGS
will take delivery of the vessel on or around 1 September 2010. It is
anticipated that over 10,000 km(2) of new 3D will be acquired under this new
vessel charter.
"Over the last three years TGS has increased its 3D investments significantly in
West Africa. In that period we have acquired over 21,000 km(2) of 3D data in
this promising region. We continue to see opportunities along the Africa
transform margin as well as in the salt basins and see the charter of the
Geo-Caribbean as an opportunity to gain access to a world class 3D seismic
vessel for utilization in a key exploration market," said Robert Hobbs, CEO of
TGS. "TGS continues to be successful in diversifying its world-wide multi-client
data portfolio and the charter of this impressive vessel will significantly
further that effort," continued Hobbs.
Data to be acquired with the Geo-Caribbean is supported by industry pre-funding.
Company summary
TGS-NOPEC Geophysical Company (TGS) provides global geoscience data products and
services to the oil and gas industry for the exploration and delineation of
hydrocarbon reserves. We design and acquire multi-client data projects
worldwide that make up our data library of seismic, gravity/magnetic and well
data, enhanced by our seismic imaging technology and regional interpretation
expertise. Visit TGS online at www.tgsnopec.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).
For additional information about this news release please contact:
Karen El-Tawil
VP, Business Development
Office: +1 713 860 2102
Cell: +1 713 806 2420
Email:karen.el-tawil(at)tgsnopec.com
Kristian Johansen
Chief Financial Officer
Cell: +47 47 60 33 34
Email:kristian.johansen(at)tgsnopec.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1430762]
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: TGS via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 12.07.2010 - 07:55 Uhr
Sprache: Deutsch
News-ID 23742
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"Charters Additional Vessel Capacity for West Africa Opportunities"
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