2007 Program will add significantly to Long-Offset 2D Survey
Asker, Norway (12 April 2007) - TGS-NOPEC Geophysical Company (TGS) announced today the initiation of its fifth season of North Sea Renaissance (NSR) seismic acquisition. The long offset NSR program currently extends from 54 degrees North (the Gas basin) to 63 degrees North (the Møre Basin) and totals approximately 65,000 kilometers.
Using four seismic vessels in operations this summer, TGS plans to add approximately 20,000 kilometers of 2D by infilling the existing NSR data as well as extending the program into new areas both in UK and Norway to make NSR significantly more complete.
"NSR has turned out to be a reference survey when hunting for deeper stratigraphic exploration and play models in the North Sea." states Kjell Trommestad, VP & General Director, Europe/Russia.
The North Sea Renaissance program is strongly pre-funded and acquired in co-operation with Fugro. The data will be processed by the TGS Imaging group in Bedford and will be available to clients beginning Q4 2007.
Please see link to map below.
TGS-NOPEC Geophysical Company (TGS) is a leading global provider of multi-client geoscientific data, associated products and services to the oil and gas industry. TGS specializes in the creation of non-exclusive seismic surveys worldwide. The Company provides advanced depth imaging solutions and software through its TGS Imaging division. Well log data is available for conversion, sourcing, management and immediate delivery through TGS subsidiary, A2D Technologies. Multi-client interpretive products and subsurface consulting services are provided through the Company's Aceca subsidiary. The TGS family of companies 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 that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO: TGS).
For more information about this news release, please contact:
Arne Helland
Chief Financial Officer
Tel: +47 66 76 99 31
Email: arne.helland@tgsnopec.no
Kjell E. Trommestad
VP & General Director, Europe
Tel: +47 66 76 99 61
Email: kjell.trommestad@tgsnopec.no
VP, Business Development
Tel: 713 860 2100
Email: jada@tgsnopec.com
