TGS Announces New 3D Project in Central and Eastern Gulf of Mexico
Asker, Norway, Houston, Texas - TGS-NOPEC Geophysical Company (TGS) announced today that it is acquiring a new Multi-Client 3D survey in the DeSoto Canyon area of the Gulf of Mexico. Named “Hernando”, the new survey covers a 300 OCS block (6,900 sq. km) area.
The MV BOS Arctic has already acquired approximately 25% of the project and is scheduled to complete the acquisition in May of 2009. The project deliverables will include Pre-Stack Time Migration as well as Anisotropic Kirchhoff and Wave Equation Pre-Stack Depth Migrations. Gravity data is also being collected along with the seismic data.
“The Hernando survey will provide 3D data over a geological trend that was actively leased in the last Central Gulf of Mexico lease sale and also an area that has not been available for exploration during the last 20 years,” said Kim Abdallah, Vice President of New Ventures for TGS. “We are working closely with our customers to create data products that will be critical in their evaluation of these new emerging plays.”
This project is supported by industry funding and participants will receive fast track data covering a 1,100 sq km area prior to the March 2009 Lease Sale.
TGS-NOPEC Geophysical Company (TGS) is a principal resource for global geoscientific data products and services in the E&P industry. TGS specializes in the design, acquisition and processing of multi-client seismic surveys worldwide and delivers advanced high performance seismic imaging and software solutions. The Company also provides the world’s largest online well-log database, well data management services, multi-client interpretive products and subsurface consulting services to industry. The suite of integrated exploration data products available from TGS is distinctive and unmatched. The Company philosophy is to create unique high-quality data collected in the right place at the right time.
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 reposnsibility or obligation to update or alter forward-looking statements for any reason.
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