TGS and Schlumberger Announce New Multi- and Wide-Azimuth Multiclient Reimaging Program in Central U.S. Gulf of Mexico
(Thomson Reuters ONE) -
ASKER, Norway, Feb. 23, 2017 (GLOBE NEWSWIRE) -- TGS-NOPEC Geophysical Company
(TGS) and Schlumberger today announced a new multi- and wide-azimuth (M-WAZ)
multiclient reimaging program in the highly prospective Central U.S. Gulf of
Mexico. Final results are expected in early 2018, ahead of a period when
substantial block turnover in the area is anticipated.
An attachment accompanying this release is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/7b0f11ce-
44a6-4f44-83db-5ce04798f826
The new Fusion M-WAZ reimaging program comprises data covering more than 1,000
Outer Continental Shelf (OCS) blocks (~23,000 km2) from 3D WAZ programs
previously acquired by TGS and Schlumberger with the WesternGeco Q-Marine*
point-receiver marine seismic system between 2008 and 2012. This large reimaging
program will process data from the Mississippi Canyon, Atwater Valley and Ewing
Bank areas using the latest imaging technology to provide a significant uplift
in data quality for upcoming licensing rounds. The area is expected to remain a
high priority for E&P companies in the foreseeable future and will benefit from
two licensing rounds every year for the next five years under the new BOEM
2017-2022 Five-Year Program.
"This highly prospective region is a core area for TGS and Schlumberger, where
we have a close relationship with customers who continue to demand the best data
to support their exploration and drilling activities," said Kristian Johansen,
CEO, TGS. "We have a strong track record of adding value to existing data sets
through reprocessing with the latest technology. Fusion is the largest wide-
azimuth reprocessing project ever performed by TGS in our collaboration with
Schlumberger."
Maurice Nessim, president, WesternGeco, Schlumberger, added, "This reimaging
collaboration combines the use of the latest reimaging technology with high
quality Q-Marine measurements and extensive geophysical and geological knowledge
of this prolific area. Customers have shown great interest and we are confident
that this project will afford them a competitive advantage in the upcoming lease
rounds and ahead of the large block turnover."
The custom-processing workflow for this project will include a number of newly
developed imaging technologies including 3D WAZ de-ghosting; 3D surface related
multiple elimination (SRME); common offset RTM gather (COR) and image-guided
tomography; and orthorhombic anisotropy velocity modelling. During the
reprocessing, geoscientists will update the salt interpretation and add input
from the latest well data released for the area.
The reimaging program is supported by industry funding. Fast-track data will be
available in 2017 for lease round bid evaluation.
About the Companies
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.
Schlumberger is the world's leading provider of technology for reservoir
characterization, drilling, production, and processing to the oil and gas
industry. Working in more than 85 countries and employing approximately 100,000
people who represent over 140 nationalities, Schlumberger supplies the
industry's most comprehensive range of products and services, from exploration
through production, and integrated pore-to-pipeline solutions that optimize
hydrocarbon recovery to deliver reservoir performance.
Schlumberger Limited has principal offices in Paris, Houston, London and The
Hague, and reported revenues of $27.81 billion in 2016. For more information,
visit www.slb.com.
*Mark of Schlumberger
Forward-looking statements
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 principle 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. The forward-looking statements speak only as of the
date of this press release. Neither TGS nor Schlumberger undertake any
responsibility or obligation to update or alter such 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 further information, contact:
Investors and Media
Sven Børre Larsen
TGS, Chief Financial Officer
Tel: +47 90 94 36 73
sven.larsen(at)tgs.com
Will Ashby
TGS, VP HR & Communication
Tel: +1 713 860 2184
will.ashby(at)tgs.com
Investors
Simon Farrant
Schlumberger Limited, Vice President of Investor Relations
Joy V. Domingo
Schlumberger Limited, Manager of Investor Relations
Tel: +1 713 375 3535
investor-relations(at)slb.com
Media
Susan Ganz
Schlumberger, Public Relations Manager-Western Hemisphere
Tel: +1 713 939 2997
sganz1(at)slb.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TGS via GlobeNewswire
Datum: 23.02.2017 - 15:00 Uhr
Sprache: Deutsch
News-ID 526146
Anzahl Zeichen: 6722
contact information:
Town:
Houston
Kategorie:
Business News
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