Houston, Texas, July 2, 2004 - TGS-NOPEC Geophysical Company, a subsidiary of TGS-NOPEC Geophysical Company ASA, has successfully concluded its acquisition of substantially all of the energy division assets of NuTec Sciences, Inc. The acquisition provides TGS-NOPEC with a leading edge seismic data processing company that specializes in pre-stack depth imaging utilizing its own proprietary technology. These resources will be used to enhance the value of TGS-NOPEC's vast seismic database and will also be used to provide proprietary imaging services to oil and gas companies. The acquisition also provides TGS-NOPEC with ownership of NuTec's PRIMA TM software. PRIMA is a fully integrated seismic data processing and multi-volume visualization tool. The visualization module is a commercial application that is currently licensed to over 50 oil and gas companies.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).
TGS-NOPEC is a leading global provider of multi-client geoscience data and associated products and services to the oil and gas industry. TGS-NOPEC specializes in the planning, acquisition, processing, interpretation and marketing of non-exclusive seismic surveys worldwide. A2D Technologies, a wholly owned subsidiary, pioneered the delivery of digital well log data over the Internet and currently offers a one-of-a-kind integrated solution for well log data sourcing, well log data management, and well log correlation. The TGS-NOPEC group places a strong emphasis on providing high-quality data and the highest level of service to the industry.
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. These include TGS-NOPEC's reliance on a cyclical industry and principal customers, the company's ability to continue to expand markets for licensing of data, and the company's ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected. TGS-NOPEC undertakes no responsibility to update forward-looking statements.
For additional information about this news release please contact:
John Adamick, VP Business Development
Telephone: +1 713-860-2100
Email: jada@tgsnopec.com
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. These include TGS-NOPEC's reliance on a cyclical industry and principal customers, the company's ability to continue to expand markets for licensing of data, and the company's ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected. TGS-NOPEC undertakes no responsibility to update forward-looking statements.
For additional information about this news release please contact:
John Adamick, VP Business Development
Telephone: +1 713-860-2100
Email: jada@tgsnopec.com