TGS has been granted appeal by Borgarting Court of Appeal
Asker (27 March 2019) TGS-NOPEC Geophysical Company ASA received notification on 27 March 2019 that the Borgarting Court of Appeal has granted the appeal by TGS of the decision of the Oslo District Court issued in October 2018 in regard to the charges by Økokrim of aiding and abetting in tax fraud. The charges stem from transactions between TGS and Skeie Energy AS in 2009 and 2010 for the purchase of seismic licenses. TGS has previosly disclosed the details of the charges and the decision by the Oslo District Court in its annual and quarterly filings. TGS expects the appellate court hearing to occur in 2020.
About TGS
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 prosessing and imaging services, interpretation products, and data integration solutions.
Contact:
Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
E-mail: investor@tgs.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.