TGS Charters Additional 3D Capacity for 2007
Naersnes, Norway (9 August 2006) – TGS-NOPEC Geophysical Company ASA (TGS) announced today that it has signed a charter agreement with BGP to utilize the newly converted R/V BGP Pioneer 3D seismic vessel. BGP is currently performing a major upgrade to the vessel in Singapore to expand its workspace and towing capabilities and to install a state-of-the-art seismic equipment package. BGP and TGS expect the Pioneer to be ready to start work in January 2007. The charter will last for a minimum period of one year with an option for TGS to extend the charter by one additional year under the same commercial terms. TGS expects to employ the Pioneer initially on its planned multi-client 3D projects in the Africa and Europe markets.
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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- John Adamick
- VP, Business Development
- TGS-NOPEC Geophysical Company ASA
- Contact via E-mail
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