TGS announces extension of Declaration project
(Thomson Reuters ONE) -
ASKER, NORWAY (19 February 2015) - TGS announces the extension of its
Declaration Multi-WAZ Survey in the Mississippi Canyon and DeSoto Canyon
protraction areas of the Gulf of Mexico.
The extension represents a minimum 2,000 km(2) of additional data to be acquired
by CGG using the single pass vessel configuration derived from its StagSeis(TM)
technology. This technology will better image deep structural elements and
improve subsalt and salt flank illumination. The extension is based on early
observations from the fast track migration of phase one of the Declaration
project.
Kristian Johansen, COO for TGS commented that, "Expanding the survey to cover
the extent of the current Lower Tertiary Norphlet fairway will provide industry-
leading data for current and future exploration and development objectives."
Acquisition of the extension is expected to be completed in Q2 2015, followed by
fast track deliverables and final imaging products in 2016.
Company summary
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil
and gas Exploration and Production companies worldwide. In addition to
extensive global geophysical and geological data libraries that include multi-
client seismic data, magnetic and gravity data, digital well logs, production
data and directional surveys, TGS also offers advanced processing and imaging
services, interpretation products and data integration solutions.
For more information visit TGS online at www.tgs.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).
TGS sponsored American Depositary Shares trade on the U.S. over-the-counter
market under the symbol "TGSGY".
For additional information about this press release please contact:
Kristian Johansen
Chief Financial Officer
Tel: +47 47 60 33 34
Email: kristian.johansen(at)tgs.com
Will Ashby
Director Investor Relations and M&A
Tel: +1 713 860 2184
Email: will.ashby(at)tgs.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(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.
Source: TGS via GlobeNewswire
[HUG#1895241]
Unternehmensinformation / Kurzprofil:
Datum: 19.02.2015 - 07:50 Uhr
Sprache: Deutsch
News-ID 372671
Anzahl Zeichen: 3795
contact information:
Town:
Asker
Kategorie:
Business News
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