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TGS and CGG announce the Greater Castberg TopSeis survey in the Barents Sea


ASKER, NORWAY – WEBWIRE

-CGG and TGS announce the Greater Castberg TopSeis™ survey in the Barents Sea. The survey is 5,000 sq km, and will be acquired and processed with the latest developments of CGG’s TopSeis acquisition and imaging technology.

The survey will include the highly prospective Castberg area, and cover existing and newly awarded licenses in addition to open acreage with several play models in multiple geological layers. The acquisition is expected to commence late Q2 2019 with final delivery to clients in Q4 2020.

The project is supported by industry funding.

Kristian Johansen, CEO, TGS, said: “Greater Castberg will expand the great TGS data coverage in the Barents Sea. The survey sits in the right place of the Barents Sea, and production licenses will start producing from this area in 2022. The area calls for high-technology solutions, and a tailor-made solution for this area is created in close collaboration with the clients and within the JV.”

Sophie Zurquiyah, CEO, CGG, said: “Our unique TopSeis solution combines an innovative source-over-spread acquisition geometry with CGG’s advanced imaging technology. This unique solution enables our clients to delineate shallow-to-intermediate depth targets in the Barents Sea, which are not resolved by conventional methods.  The new survey will add to CGG’s library of modern broadband multi-client data in the Barents Sea, an excellent resource for optimizing the discovery and development of hydrocarbons.”

About 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.


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