TGS Announces Extension to Gulf of Mexico Multi-Client 3D Survey – Eastern Delta
22 May 2006
Houston, Texas and Naersnes, Norway – TGS-NOPEC Geophysical Company (TGS) announced today that it has reached an agreement to extend its multi-client 3D seismic survey in the Main Pass and Viosca Knoll areas of the Gulf of Mexico. Motivated by client pre-funding in the area, the survey will increase from 1800 square kilometers to 2400 square kilometers.
TGS contracted Reservoir Exploration Technology AS (RXT) to perform the acquisition of the survey utilizing a Vector-Seis Ocean Bottom Cable recording system. The Eastern Delta survey commenced in February of this year and the initial results of the newly acquired data have shown significantly improved data resolution over the existing data in the area. TGS Imaging is processing the data utilizing its proprietary PRIMA™ technology and will produce pre-stack time and pre-stack depth migration data volumes.
The Main Pass/Viosca Knoll area is a very mature hydrocarbon producing region and the TGS Eastern Delta program is the first modern vintage, long offset (9000+ meter) 3D data recorded in the area. Water depths in the survey area range from 10 to 400 meters.
The Eastern Delta program is supported by pre-funding from multiple independent and major oil companies. Survey acquisition is now expected to be complete in January of 2007.
TGS-NOPEC Geophysical Company (TGS) is a leading global provider of multi-client geoscientific data, associated products and services to the oil and gas industry. TGS specializes in the creation of non-exclusive seismic surveys worldwide. The Company provides advanced depth imaging solutions and software through its TGS Imaging division. Well log data is available for conversion, sourcing, management and immediate delivery through TGS subsidiary, A2D Technologies. Multi-client interpretive products and subsurface consulting services are provided through the Company’s Aceca subsidiary. The TGS family of companies places a strong emphasis on providing high-quality data and the highest level of service to the industry.
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).
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- TGS-NOPEC Geophysical Company
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