TGS announces Crean 3D multi-client project in Ireland
(Thomson Reuters ONE) -
ASKER, Norway, April 24, 2017 (GLOBE NEWSWIRE) -- TGS announces new multi-client
acquisition project, Crean 3D on the Irish Atlantic Margin.
A photo accompanying this announcement is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/325303aa-b36f-4de5-a678-
60be534ae895
Crean 3D (CRN 3D) is a multi-client survey of more than 5,400 km(2) located in
the South Porcupine Basin between the Porcupine High and the Irish Mainland
Platform. Multi-level targets exist, such as Paleocene and Mesozoic channel/fan
systems overlying tilted fault blocks. Exploration success on the Newfoundland
Labrador conjugate margin coupled with historical exploration in Atlantic
Ireland has resulted in significant acreage being licensed. TGS will acquire new
3D data to provide the higher spatial resolution required to delineate multiple
plays at multiple levels. Acquisition is expected to commence in June 2017. Data
processing will be performed by TGS using its Clari-Fi(TM) broadband technology.
"Crean 3D will expand TGS' modern 3D coverage in the underexplored Porcupine
Basin. With the successful Atlantic Ireland license round in 2016, we see that
activity across the Porcupine Basin is continuing to increase, creating exciting
new opportunities. The Crean 3D survey further adds to our Atlantic Margins
library which also includes data and new acquisition in the Norwegian Sea, North
West Africa and Newfoundland Labrador," commented Kristian Johansen, CEO for
TGS.
This survey is supported by industry funding.
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 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. 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:
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: sven.larsen(at)tgs.com
Will Ashby
VP HR & Communication
Tel: +1 713 860 2184
Email: will.ashby(at)tgs.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: 24.04.2017 - 07:50 Uhr
Sprache: Deutsch
News-ID 537709
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"TGS announces Crean 3D multi-client project in Ireland"
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