Deliver Your News to the World

TGS announces addition to Australian data library


 TGS signed a sale and purchase agreement to acquire the Australian Capreolus 3D Survey from Polarcus’ multi-client library. The transaction is subject to the execution of ancillary agreements typical for a transaction of this nature with target closing date on or before 31 July 2018. 

“We are pleased to announce the addition of the high-quality Capreolus 3D survey into the TGS data library. This high fold, full broadband seismic survey is 22,130 km2 in size and covers two hydrocarbon provinces with proven but underexplored oil and gas plays in the Beagle and Bedout sub-basin offshore north-west Australia. This transaction strengthens our 3D-position offshore Australia and the dataset is very complementary to our existing, extensive 3D database in the neighboring Carnarvon Basin,” stated Kristian Johansen, CEO, TGS.

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, 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.

( Press Release Image: )


This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.