TGS Commences Extension to Offshore Angola 3D Multi-Client Survey

Marketwired

ASKER, NORWAY--(Marketwire - Nov 27, 2012) -  TGS has commenced an extension to the offshore Angola 3D multi-client survey. The extension, covering 4,064 km2 over blocks 36 and 37, will add to the original survey of 12,500 km2 which has completed acquisition. 

"We are very pleased to continue our relationship with Sonangol and to support oil and gas exploration in the Republic of Angola," commented Stein Ove Isaksen, Senior VP Eastern Hemisphere for TGS. "Angola's conjugate margin pre-salt basins, similar to hydrocarbon rich basins offshore Brazil, provide exciting new opportunities in petroleum exploration."

The seismic data is being acquired by the M/V Geco Eagle. Data processing will be performed by TGS and preliminary data will be available to clients from Q4 2013. 

The 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, 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).

Contact:
For additional information about this press release please contact:

Kristian Johansen
Chief Financial Officer
Cell: +47 47 60 33 34
Email: Email Contact

Will Ashby
Director Investor Relations and M&A
Office: +1 713 860 2184
Email: Email Contact

Stein Ove Isaksen
Senior VP Eastern Hemisphere
Office: +47 41 64 00 74
Email: Email Contact

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