TGS Expands Multi-Client 2D Data Coverage in Indonesia
(Thomson Reuters ONE) - Perth, Australia (28 January 2010) - TGS todayconfirmed its launch of a 2D seismic acquisition program offshore West Papua inEast Indonesia. The program adds 2,240 km of new 2D data designed to helpevaluate the petroleum potential south of the Salawati Basin. TheSalawati Basin is recognised as one of the largest oil basins in EasternIndonesia with total cumulative oil production of more than 300 million barrels.Data acquisition is nowunderway and is expected to conclude by the second quarter of 2010."We are committed to continued expansion of the Indonesia multi-client datalibrary in areas with high exploration potential. This program represents asolid start for 2010 and TGS expects that it will be the first of a series of2D projects this year, contingent on further industry support", stated RodStarr, TGS General Manager - Asia Pacific.The program has industry pre-funding and supports the Indonesia government'soverall objective to attract exploration and raise declining production levels.TGS maintains the largest multi-client Indonesia data library in the industry. Upon the completion of theprogram, the TGS Indonesia library will exceed 100,000 kilometers of 2D seismic;400,000 kilometers of multi-beam bathymetric data and 1,200 core samplescovering over 1 million square kilometers of Indonesia's deep-water basins.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 2100Email: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 Rod StarrVP and GM Asia PacificTel: + 61 (08) 9480 0000Email: rod.starr(at)tgsnopec.com This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1377985]
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Datum: 28.01.2010 - 01:50 Uhr
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