New TGS 3D Project in Liberia
(Thomson Reuters ONE) - ASKER, NORWAY (26 January, 2010) - TGS has commenced acquisition of the nextphase of 3D projectsoffshore Liberia. This newest projectcovers Liberia blocks 8 and 9 and totals 5,000 kms(2). The MV Polarcus Nadiawill acquire the project and TGS will apply advanced pre-stack time andpre-stack depth imaging techniques to createthe final subsurface image.The TGS African data library includes a series of 2Dand 3D seismic projects covering the Africa Transform Margin. Recent petroleumdiscoveries in the Gulf of Guinea and offshore Sierra Leone have attractedsignificant exploration interest in this region. Upon completion of this latestproject, TGS will have more than 30,000 kms of 2D and 18,000 kms(2 )3D seismiccovering this emerging exploration play in West Africa.The acquisition of the survey will complete in Q2 2010 and is heavilyprefunded.TGS-NOPEC Geophysical Company (TGS) provides global geoscience data products andservices to the oil and gas industry for the exploration and delineation ofhydrocarbon reserves. We design and acquire multi-client data projectsworldwide that make up our data library of seismic, gravity/magnetic and welldata, enhanced by our seismic imaging technology and regional interpretationexpertise. Visit TGS online at www.tgsnopec.com .All statements in this press release other than statements of historical factare forward-looking statements, which are subject to a number of risks,uncertainties and assumptions that are difficult to predict, and are based uponassumptions as to future events that may not prove accurate. These factorsinclude TGS' reliance on a cyclical industry and principal customers, TGS'ability to continue to expand markets for licensing of data, and TGS' ability toacquire and process data products at costs commensurate with profitability.Actual results may differ materially from those expected or projected in theforward-looking statements. TGS undertakes no responsibility or obligation toupdate or alter forward-looking statements for any reason.TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange(OSLO:TGS).For additional information about this news release please contact:Karen El-TawilVP, Business DevelopmentTel: +1 713 860 2102Email:karen.el-tawil(at)tgsnopec.com Arne HellandChief Financial OfficerTel: +47 66 76 99 31/+47 91 88 78 29Email:arne.helland(at)tgsnopec.no Kim AbdallahVP, New Ventures, Africa and Middle EastTel: +1 713-860-2120Email:kim.abdallah(at)tgsnopec.com This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1377024]
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Datum: 26.01.2010 - 01:51 Uhr
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