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TGS Begins 2D Regional Multi-Client Project in West Africa


Asker, Norway - TGS-NOPEC Geophysical Company (TGS) announced today that it has begun acquiring a new 8,600-kilometer multi-client survey offshore West Africa, consisting of long offset 2D seismic, gravity, and magnetic data.

This regional program ties to the recent Jubilee discovery on the west side of Ghana and extends across shallow and deep water acreage that is not currently under lease. The project is designed to help further define the extent of the petroleum system through the eastern prospective offshore area of Ghana.

“TGS is excited to augment its existing regional coverage in this active and promising province off West Africa ”, said David Hicks, VP of Africa, Middle East and Far East for TGS. “We plan to expand this regional coverage in the future as our geological understanding of the area develops”, he added.

The project is being acquired by the MV Northern Genesis and is supported by industry funding.

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.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).


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