TGS Announces a New Multi-client 2D Program offshore Newfoundland and Labrador
(Thomson Reuters ONE) -
ASKER (12 May 2015) - TGS announces two new multi-client 2D surveys offshore
Eastern Canada, with plans to acquire approximately 30,000 km of seismic data.
Both surveys are in partnership with PGS, utilizing two vessels during the 2015
acquisition season.
The M/V Atlantic Explorer utilizing the PGS GeoStreamer® technology, will
acquire approximately 18,000 km of seismic data in the Southeast Grand Banks.
Data acquisition will commence during June 2015.
The M/V Sanco Spirit, also utilizing the PGS GeoStreamer® technology, will
acquire approximately 12,000 km of seismic in the South Labrador, Northeastern
and Eastern Newfoundland area. Data acquisition will commence during July 2015.
Both projects will provide valuable data covering expected Areas of Interest
(AOIs) to be released by Canada's Newfoundland and Labrador Offshore Petroleum
Board (C-NLOPB) as part of the new land tenure system announced to the industry
previously. Pre-processing of the initial GeoStreamer signal will be performed
by PGS following which TGS will perform data processing with final data
available to clients Q3 2016.
"TGS' continued investment in this region reflects our support of Newfoundland-
Labrador's provincial energy strategy, including more detailed coverage in the
expected future AOIs. Including these new surveys the total 2D library size in
East Coast Canada will reach approximately 115,000 kilometers since the TGS and
PGS joint venture started acquiring data in 2011. In combination with our
interpretation products the data will assist our customers with their evaluation
of the plays providing a unique insight into this region's potential," commented
Katja Akentieva, Senior VP Western Hemisphere for TGS.
Both of these projects have industry support.
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
COO/Interim CFO
Cell: +47 47 60 33 34
Email: kristian.johansen(at)tgs.com
Will Ashby
Director Finance Western Hemisphere & Investor Relations
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#1920747]
Unternehmensinformation / Kurzprofil:
Datum: 12.05.2015 - 07:50 Uhr
Sprache: Deutsch
News-ID 392406
Anzahl Zeichen: 4739
contact information:
Town:
Asker
Kategorie:
Business News
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