TGS-NOPEC announces new Non-Exclusive 2D Survey offshore New Zealand

The deepwater extension of the Taranaki Basin, New Zealand’s first hydrocarbon-producing province, is believed to have significant hydrocarbon potential. Based on data from adjacent basins and new satellite gravity data, the basin is extensive with up to 10,000 metres of Late Mesozoic and Cainozoic section present.

Modelled petroleum generation and migration indicate generation to have occurred continuously from about 80 million years ago.

The 6,800 km survey will provide a regional grid of modern high quality seismic data (including five well-ties onto the shelf) which will elucidate the structural development of the basin and help to define the size and nature of petroleum traps in this frontier region which is adjacent to the giant Maui gas/condensate field.

The project is being conducted in collaboration with the New Zealand Institute of Geological and Nuclear Sciences who will provide an interpretation of the data.

Completion of acquisition is estimated for June 20th , 2001.

The New Zealand Government has issued a Press Release (attached) announcing a plan for a block release program for the area early in 2002.


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.

TGS-NOPEC is listed on the Oslo Stock Exchange (OSLO:TGS).