TGS Announces Eastern Delta Refocus Imaging Program in U.S. Gulf of Mexico
Asker, Norway (13 February 2020) - TGS, a leading provider of multi-client geoscience data for exploration & production (E&P) companies, today announced the Eastern Delta Refocus 3D OBS (Ocean Bottom Seismic) imaging program in the U.S. Gulf of Mexico. This reprocessing project marks the next phase of imaging over the mature, hydrocarbon producing areas of Main Pass and Viosca Knoll. By applying advanced imaging techniques in this highly successful region, TGS will further illuminate the key subsurface structures and provide new insight into the prospectivity within the deeper Mesozoic section. TGS plans to reprocess an area of approximately 2,250 square kilometers in order to provide a high-quality regional product, helping E&P companies to fully explore the new plays in this area. The project commenced in Q1 2020 with final data available in Q4 2020.
Kristian Johansen, CEO at TGS, commented, "This project has been launched following increased client interest in the area, with recent leasing of acreage and exploration plans targeting the highly prolific Norphlet play. Combined with our vast library of well information and our trusted imaging solutions, we continue to provide customers with the most comprehensive subsurface insight in the Gulf of Mexico.”
This project is supported by industry funding.
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, machine learning 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.
For more information, visit or contact:
Dean Zuzic
Chief Financial Officer
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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