TGS Announces New U.S. Gulf of Mexico Deepwater 3D Survey

ASKER, NORWAY (22 September 2014) - TGS is pleased to announce the continuation of its Explorer Series seismic acquisition program in the deepwater U.S. Gulf of Mexico.  Panfilo 3D will add 11,500 km² to TGS' multi-client library in the Lund and Henderson Central Gulf of Mexico protraction areas.  Acquisition will commence in Q4 2014 with the M/V Polarcus Adira towing ten kilometer streamers to image regional stratigraphy and deep basin structures. Data will be available in late 2015.

Rod Starr, Senior VP Western Hemisphere for TGS commented, "This data volume will represent a continued investment in the deep water region of the Gulf of Mexico and will provide new, high quality data over mainly open acreage, which will be available to industry in future lease rounds."

This project is supported by industry funding.

 

Company summary     

TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide.  In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.

For more information visit TGS online at www.tgs.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).

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".

For additional information about this press release please contact:

Kristian Johansen
Chief Financial Officer
Tel: [phone]
Email: [e-mail]

Will Ashby
Director Investor Relations and M&A
Tel: [phone]
Email: [e-mail]

Rod Starr
Senior VP Western Hemisphere
Tel: [phone]
Email: [e-mail]

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TGS via Globenewswire

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