TGS Signs Letter of Intent for 3D Vessel

Marketwired

ASKER, NORWAY--(Marketwire - Dec 21, 2012) - TGS announces that it has signed a Letter of Intent with CGGVeritas Services S.A. to charter a 12 streamer vessel, for 3D multi-client projects in Europe during the 2013 summer season. The charter will begin in April and last for approximately six months.

The details of the individual projects to be completed under this charter will be announced separately.

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
Office: +47 66 76 99 00
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
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