TGS announces Crean 3D multi-client project in Ireland
24 Abril 2017 - 12:50AM
ASKER, Norway, April 24, 2017 (GLOBE NEWSWIRE) --
TGS announces new multi-client acquisition project, Crean 3D on the
Irish Atlantic Margin.
A photo accompanying this announcement is
available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/325303aa-b36f-4de5-a678-60be534ae895
Crean 3D (CRN 3D) is a multi-client survey of more
than 5,400 km2 located
in the South Porcupine Basin between the Porcupine High and the
Irish Mainland Platform. Multi-level targets exist, such as
Paleocene and Mesozoic channel/fan systems overlying tilted fault
blocks. Exploration success on the Newfoundland Labrador conjugate
margin coupled with historical exploration in Atlantic Ireland has
resulted in significant acreage being licensed. TGS will acquire
new 3D data to provide the higher spatial resolution required to
delineate multiple plays at multiple levels. Acquisition is
expected to commence in June 2017. Data processing will be
performed by TGS using its Clari-FiTM broadband
technology.
"Crean 3D will expand TGS' modern 3D coverage in
the underexplored Porcupine Basin. With the successful Atlantic
Ireland license round in 2016, we see that activity across the
Porcupine Basin is continuing to increase, creating exciting new
opportunities. The Crean 3D survey further adds to our Atlantic
Margins library which also includes data and new acquisition in the
Norwegian Sea, North West Africa and Newfoundland Labrador,"
commented Kristian Johansen, CEO for TGS.
This survey is supported by industry funding.
Company Summary
TGS-NOPEC Geophysical Company
(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.
For more information visit TGS
online at www.tgs.com.
Forward-looking statements and
contact information
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 principle customers, TGS' ability to continue to
expand markets for licensing of data, and TGS' ability to acquire
and process data products 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.
TGS-NOPEC Geophysical Company ASA
is listed on the Oslo Stock Exchange (OSLO:TGS).
TGS sponsored American Depositary
Shares trade on the U.S. over-the-counter market under the symbol
"TGSGY".
For additional information about this press
release please contact:
This information is subject to the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: sven.larsen@tgs.com
Will Ashby
VP HR & Communication
Tel: +1 713 860 2184
Email: will.ashby@tgs.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: TGS via Globenewswire
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