TGS Executes Agreement for Deepwater Liberia Shoot
(Thomson Reuters ONE) - Asker, Norway (16 September, 2009) - TGS-NOPEC Geophysical Company(TGS) announced today that it has signed an agreement with theNational Oil Company of Liberia ("NOCAL") to acquire 15,000kilometers of long-offset regional 2D seismic, gravity, and magneticdata over the ultra-deep waters located offshore Liberia. This newmulti-client survey is expected to commence in the fourth quarter of2009, given sufficient industry interest. Offshore Liberia hasattracted significant industry attention due to recently announceddiscoveries in the Gulf of Guinea."TGS has been acquiring data along this margin since 2000 and ispleased to expand our data coverage in Liberia. It has been extremelyrewarding to see the value being generated from our activities forboth the local region and the oil and gas industry in general overthis extended period," said David Hicks, VP of Africa, Middle Eastand Far East for TGS.The Liberia Ultra-Deep Program will extend existing TGS multi-clientdata out to 4000 meters of water. NOCAL is expected to announce alicensing round following the acquisition and processing of the data.TGS-NOPEC Geophysical Company (TGS) is a principal resource forglobal geoscientific data products and services in the E&P industry.TGS specializes in the design, acquisition and processing ofmulti-client seismic surveys worldwide and delivers advanced highperformance seismic imaging and software solutions. The Company alsoprovides the world's largest online well-log database, well datamanagement services, multi-client interpretive products andsubsurface consulting services to industry. The suite of integratedexploration data products available from TGS is distinctive andunmatched. The Company philosophy is to create unique high-qualitydata collected in the right place at the right time.All statements in this press release other than statements ofhistorical fact are forward-looking statements, which are subject toa number of risks, uncertainties and assumptions that are difficultto predict, and are based upon assumptions as to future events thatmay not prove accurate. These factors include TGS' reliance on acyclical industry and principal customers, TGS' ability to continueto expand markets for licensing of data, and TGS' ability to acquireand process data products at costs commensurate with profitability.Actual results may differ materially from those expected or projectedin the forward-looking statements. TGS undertakes no responsibilityor obligation to update or alter forward-looking statements for anyreason.TGS-NOPEC Geophysical Company ASA is listed on the Oslo StockExchange (OSLO:TGS).For additional information about this news release please contact:Karen El-TawilVP, Business DevelopmentTel: +1 713 860 2100Email: karen.el-tawil(at)tgsnopec.comArne HellandChief Financial OfficerTel: +47 66 76 99 31/+47 91 88 78 29Email: arne.helland(at)tgsnopec.noKim AbdallahVP New Ventures Africa Middle EastTel: +1 713 860 2120Email: kim.abdallah(at)tgsnopec.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 16.09.2009 - 08:02 Uhr
Sprache: Deutsch
News-ID 5857
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