TGS Commences Senegal 3D Survey in Offshore North-West Africa Atlantic Margin
ASKER, Norway (22 November 2019) - TGS is commencing a new seismic survey in the MSGBC Basin, offshore north-west Africa. The Senegal North Ultra-Deep Offshore (SN-UDO-19) 3D survey covers over 5,100 square kilometers, with a modern broadband acquisition set-up. The project is being undertaken in partnership with GeoPartners - using the vessel, BGP Prospector – and has the full support of the Senegalese national oil company, PETROSEN.
This stand-alone survey is located in northern Senegal and is a continuation of the recently completed SS-UDO-19 3D acquisition in southern Senegal. The survey has been designed to illuminate plays in the ultra-deep, enabling explorers to build upon the success the basin has experienced with the Sangomar field, the GTA complex and Yakaar discoveries. The project has a 75-day acquisition timeline, with fast track data available three months after acquisition, in time for evaluation of blocks available in the recently announced Senegal Offshore 2020 License Round. The full dataset will be available by Q4 2020.
Kristian Johansen, CEO of TGS, commented, “This survey will provide the industry with essential subsurface insight ahead of Senegal’s Offshore License Round which is scheduled to commence early next year. SN-UDO-19 extends our coverage in a highly prospective region where TGS has been actively acquiring data for almost two years. The MSGBC Basin remains a key region for TGS where our unique combination of multibeam, seafloor sampling, seismic, interpretation and imaging products deliver the best subsurface knowledge in the industry. As we expand offshore activities in the Southern Atlantic, we are well positioned to provide our customers with valuable insights to further develop opportunities both offshore Senegal and in the wider region.”
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.
For more information, visit TGS.com 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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