Contact Information: For additional information about this news release please contact: Karen El-Tawil VP, Business Development Tel: +1 713 860 2100 Email: Arne Helland Chief Financial Officer Tel: +47 66 76 99 31/+47 91 88 78 29 Email: Kim Abdallah VP New Ventures Africa Middle East Tel: +1 713 860 2120 Email:
ASKER, NORWAY--(Marketwire - October 19, 2009) - Today
TGS-NOPEC Geophysical Company (TGS)
confirmed the start up of its next phase of regional multi-client 3D seismic acquisition in offshore
Liberia. The new two-thousand square kilometer 3D program expands the
existing 9,000 square kilometers of 3D coverage that TGS initiated in late
2008. The latest Liberia phase will be recorded with long offset
acquisition and will incorporate state of the art Prestack Time and
PreStack Depth data processing.
TGS expects preliminary data to be available in the third quarter of 2010.
Offshore Liberia has received significant interest in recent months due to
the excitement generated by new oil discoveries in both the Gulf of Guinea
and Sierra Leone.
"It is exciting to have data in a trend that has recently produced
significant oil discoveries in Offshore Africa," commented Kim Abdallah,
TGS' VP of New Ventures in Africa and the Middle East. "Our coverage of
this emerging oil play will now be more than 14,000 kilometers of
multi-client 2D data and 11,000 square kilometers of 3D data." The program
is heavily prefunded.
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.
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 ).