TGS Completes Processing of Erlend Wild West Project and Commences Deliveries
Asker, Norway (23 March 2020) – TGS, a leading provider of multi-client geoscience data for exploration & production (E&P) companies, today announced that it has completed, on-time, the processing of its Erlend Wild West multi-client 3D seismic survey west of Shetland. This data, which offers an enhanced subsurface image of the region to assist in the geological understand of this highly prolific region, is now available and being delivered to first customers.
Erlend Wild West is a 3,900-square kilometer survey consisting of 1,900 square kilometers of data acquired during a project which began in the autumn of 2018, using Clari-Fi broadband technology to deliver high fidelity imaging of the subsurface, along with a number of vintage surveys, including EW12 3D.
The combination of processing of new and reprocessing of vintage data for this survey area has realized a significant upshift (uplift) in imaging the visualization of the sub–basalt-influenced geological settings, including high velocity contrasts and volcanics. This will allow greater understanding of the plays in one of the most exciting E&P sectors regions of the UK continental shelf.
Kristian Johansen, CEO at TGS, said: “I am pleased that we now have available to E&P customers this Erlend Wild West survey in the West of Shetlands region, which covers an area that already has existing discoveries and where a number of high potential prospects have also been identified. Already, feedback from first customers has been particularly positive and reinforces the extensive work we have recently undertaken to build up our world-class processing and imaging capabilities.”
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.
Forward Looking Statement
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:
Fredrik Amundsen
Chief Financial Officer
Sven Larsen
EVP, Strategy & M&A
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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