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30-04-2012 07:50:51

TGS Commences Multi-client 3D Survey in Norwegian Barents Sea

ASKER, NORWAY (30 April 2012) - TGS has commenced acquisition of a 3D multi-client survey covering 2,400 km2 in the Norwegian Barents Sea.

The survey, Finnmark Platform 2012 (FP12), covers five blocks in the Southwestern Barents Sea of which four are located in quad 7017 and one is in quad 7018. All blocks are proposed by the Ministry of Petroleum and Energy to be included in the 22nd Licensing Round on the Norwegian Continental Shelf.  Fast track data will be available in time to perform interpretation for the 22nd Licensing Round.

The M/V Polar Duchess towing 10 x 6,000 m streamer with 75 m separation is acquiring the survey.  Data processing will be performed by TGS and available to clients Q3 2012. 

The survey is supported by industry funding.

Company summary     

TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data and services to oil and gas Exploration and Production companies around the globe. TGS' geophysical and geological data products include multi-client seismic libraries, permanent reservoir monitoring, magnetic and gravity data, the industry's largest global database of digital well logs and regional interpretive products. TGS also provides high-end depth imaging services to help resolve complex seismic imaging problems. 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).

For additional information about this press release please contact:

Kristian Johansen

Chief Financial Officer

Office: +47 66 76 99 00

Cell: +47 47 60 33 34

Email: kristian.johansen@tgs.com

Karen El-Tawil

VP, Business Development

Office: +1 713 860 2102

Cell: +1 713 806 2420

Email: karen.el-tawil@tgs.com

Stein Ove Isaksen

Senior VP Eastern Hemisphere

Tel: +1 713 860 2111

Email: SteinOve.Isaksen@tgs.com

 

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


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the

information contained therein.

Source: TGS via Thomson Reuters ONE

HUG#1607128

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