ASKER, NORWAY (08 June 2011) - TGS will commence acquisition of 42,000 km of magnetics, gravity and oil seep data in Southeast Greenland during Q2 2011. The total airborne data coverage in Greenland after the 2011 season will be approximately 311,000 km.
"This year`s acquisition campaign gives us full data coverage of the most prospective regions of offshore Greenland. This is the first time TGS has included Seepfinder equipment which will bring a new and important dimension to this regional data set by detecting oil seeps on the sea surface," stated Senior VP Europe & Russia, Kjell E. Trommestad. Data processing will be performed by TGS and will be available to clients in Q3 2011.
The survey is supported by industry funding.
TGS-NOPEC Geophysical Company (TGS) provides global geoscience data products and services to the oil and gas industry for the exploration and delineation of hydrocarbon reserves. We design and acquire multi-client data projects worldwide that make up our data library of seismic, gravity/magnetic and well data, enhanced by our seismic imaging technology and regional interpretation expertise. Visit TGS online at www.tgsnopec.com.
Forward-looking statements and contact information
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 additional information about this press release please contact:
Chief Financial Officer
Office: +47 667 69931
Cell: +47 47 60 33 34
VP, Business Development
Office: +1 713 860 2102
Cell: +1 713 806 2420
Kjell E. Trommestad
Senior VP & General Director Europe
Tel: +47 66 76 99 61