TGS Announces Its First 3D Multi-client Seismic Survey Offshore Brazil
HOUSTON – TGS, in partnership with Dolphin Geophysical, will commence acquisition of a new 3D multi-client survey, Olho de Boi, covering 5,000 km2 offshore Brazil. The survey is designed to image pre-salt plays in the hydrocarbon rich Campos Basin and is located northeast of the Pão de Açúcar discovery in an area of similar structural and stratigraphic characteristics.
“The Olho de Boi survey will be TGS’ first 3D survey in Brazil,” stated Rod Starr, Senior VP Western Hemisphere for TGS. “The Company has conducted considerable geologic review and reprocessing of existing 2D data to ensure strategic placement of the survey in a highly prospective area in the Campos Basin. We expect this 3D survey will be of high interest to the industry for future lease round activities.”
The seismic data will be acquired by the M/V Sanco Swift. Data processing will be performed by TGS using its proven proprietary broadband processing technology, Clari-FiTM. Data will be available to clients in Q4 2014.
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.
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 product 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).
TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol “TGSGY”.
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