Du är här

2015-08-24

TGS: TGS announces its Gigante multibeam, coring and geochemical analysis project

HOUSTON (24 August 2015) TGS is pleased to confirm that it has received
authorization from Mexico'sComisión Nacional de Hidrocarburos
(CNH) for the acquisition of multibeam, coring and geochemical analysis data
over an area of approximately 600,000 square kilometers in Mexican waters.
This project will cover the entire deep water area of the offshore sector of
Mexico, including world class producing trends such as the Perdido Fold Belt
and Campeche Bay. This project will be conducted in conjunction with the
186,000 km TGS Gigante seismic survey which is currently 12% (>22,000 kms)
complete.

The multibeam data will be acquired by Fugro using vessels equipped with the
latest generation of multibeam sonar equipment. Multibeam bathymetry and
backscatter data will be used to identify possible oil and gas seep targets
for sediment sampling. Over one thousand navigated piston cores will be
collected by TDI Brooks International and detailed geochemical analysis will
be performed.

"We are pleased to create a portfolio that combines all important geoscience
data into one integrated package that can be used to better aid exploration
efforts in this region. These data have value from the earliest stages of
reconnaissance through the end of the development program. It is a
complementary addition to our Gigante regional 2D seismic program that is
currently being acquired. Our customers have shown considerable interest in
these projects," commented Katja Akentieva, Senior VP Western Hemisphere,
TGS.

TGS will commence acquisition of Multibeam and Coring data in Q3 2015 subject
to receiving environmental impact resolution from the Mexican Authorities,
with expected completion in early Q4 2016.

This survey 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, 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".

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

TGS Gigante Multibeam Project Map
http://hugin.info/86869/R/1947115/706934.pdf

---------------------------------------

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

HUG#1947115

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.