Contact Information: Karen El-Tawil VP Business Development Tel: +1 713 860 2102 Email: Stein Ove Isaksen VP North and South America Tel: +1 713-860-2100 Email: Arne Helland CFO Tel: +47 91 88 78 29/+47 66 76 99 31 Email:
ASKER, NORWAY--(Marketwire - October 26, 2009) - TGS-NOPEC
Geophysical Company (TGS) announced today their third Wide Azimuth
(WAZ) 3D survey in the Constitution series of projects in the Gulf of Mexico.
This newest survey,
Justice, adds more than 7,800 square kilometers of WAZ coverage to the
TGS portfolio. The project is a northeast expansion of the existing and
contiguous Freedom and Liberty projects. Justice will cover portions of
the hydrocarbon rich areas of Mississippi Canyon, Viosca Knoll, and De Soto
Canyon.
TGS has contracted WesternGeco to perform the seismic acquisition for this survey and the project
is planned to commence late in December 2009. Acquisition of the data will
incorporate two streamer vessels and two source vessels with a total of 20
streamers and 4 sources deployed and synchronized on the project. TGS will
perform all data processing on the Justice survey and the final
deliverables will include a wide range of depth-imaged products.
Contrary to the Freedom and Liberty projects which were done under a
cooperation agreement with WesternGeco, TGS will be the sole owner of the
Justice survey.
"The clients' support of our existing Wide Azimuth programs and their
willingness to pre-fund the adjacent areas has allowed us to again expand
these efforts," commented Stein Ove Isaksen, VP of North and South America
for TGS. "We look forward to the challenge of imaging this geologically
complex and important producing region of the Gulf."
Upon completion of Justice, TGS will have more than 27,000 square
kilometers of WAZ 3D available for licensing covering the most productive
oil producing area of the deepwater Gulf of Mexico.
The Justice WAZ 3D project is being completed with customer funding.
TGS-NOPEC Geophysical Company (TGS) is a principal resource for global
geoscientific data products and services in the E&P industry. TGS
specializes in the design, acquisition and processing of multi-client
seismic surveys worldwide and delivers advanced high performance seismic
imaging and software solutions. The Company also provides the world's
largest online well-log database, well data management services,
multi-client interpretive products and subsurface consulting services to
industry. The suite of integrated exploration data products available from
TGS is distinctive and unmatched. The Company philosophy is to create
unique high-quality data collected in the right place at the right time.
The information included herein contains certain forward-looking statements
that address activities, events or developments that the Company expects,
projects, believes or anticipates will or may occur in the future. These
statements are based on various assumptions made by the Company, which are
beyond its control and are subject to certain additional risks and
uncertainties as disclosed by the Company in its Annual Report. As a result
of these factors, actual events may differ materially from those indicated
in or implied by such forward-looking statements.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange
(OSLO : TGS ).
Visit TGS-NOPEC Geophysical Company online at www.tgsnopec.com