Nærsnes, Norway, August 23, 2001 - TGS-NOPEC Geophysical Company ASA (OSLO:TGS) today announced the acquisition of a 4,000-km 2D seismic survey in West Greenland/Canadian waters. Acquisition of the highly pre-funded survey commenced in July and field operations are expected to terminate early in October.
The survey is designed to tie geological information from existing wells offshore Canada into an unexplored, highly prospective province, recently discovered during TGS-NOPEC's 2000 seismic programme in these waters.
2001 marks the third consecutive year of TGS-NOPEC operations in West Greenland. During the three summer seasons the Company has acquired 13,000 kms of modern 2D seismic, all relevant for Greenland's first bidding round scheduled in the first Quarter of 2002.
The vessel M/V Zephyr-1, under long-term charter to TGS-NOPEC, is currently acquiring the survey and TGS-NOPEC's processing centre in Bedford, UK will process the data.
TGS-NOPEC is a leading global provider of non-exclusive seismic data and associated products to the oil and gas industry. Oil companies use this seismic data to explore for and develop oil and gas deposits. TGS-NOPEC specializes in the planning, acquisition, processing, interpretation, and marketing of non-exclusive surveys worldwide. The company places a strong emphasis on providing high quality seismic data and the highest level of service to the industry. TGS-NOPEC also offers proprietary seismic acquisition and processing services, as well as gravity and aeromagnetic surveys.