|By Marketwired .||
|September 9, 2013 01:50 AM EDT||
HOUSTON, TX -- (Marketwired) -- 09/09/13 -- TGS has commenced acquisition of a 2D multi-client survey in the Chukchi Sea off the northwest coast of Alaska. The Chukchi Sea 2D 2013 survey covers approximately 8,000 km and builds on the existing Chukchi Sea (CSR-06) survey acquired in 2006 in Russian waters and the AWI Chukchi Sea (AWI08) survey acquired in 2008.
"TGS is very pleased to be back in the Chukchi Sea," stated Rod Starr, Senior Vice President Western Hemisphere for TGS. "This project was implemented following productive cooperation with local, state and federal agencies as well as local community stakeholders. The data will provide critical subsurface information for the scheduled BOEMRE lease rounds beginning in 2016."
The seismic data is being acquired by the M/V Geo Arctic. Data processing will be performed by TGS and will be available to clients in Q2 2014.
This survey is supported by industry funding.
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:
Chief Financial Officer
Cell: +47 47 60 33 34
Director Investor Relations and M&A
Tel: +1 713 860 2184
Senior VP Western Hemisphere
Tel: +1 713 860 2100