TGS Announces Commercial Agreement to Sell Fugro's 2D Multi-Client Library
ASKER, NORWAY -- (Marketwire) -- 03/18/13 -- TGS-NOPEC Geophysical
Company ASA ("TGS") announces a commercial agreement to sell Fugro's
2D multi-client library. As a result of this agreement, Fugro
provides TGS with an exclusive right to licence and market the
majority of Fugro's multi-client 2D library and receive commission
fees on the sales of this data.
The agreement covers more than 1,000,000 km of seismic data in areas
of great strategic interest for TGS. While the brokerage agreement
provides TGS with more data coverage in existing focus areas such as
Northwest Europe, it also provides access to a broad range of new
client contacts and exposure to seven new countries/areas where TGS
is not active today.
This agreement is effective immediately.
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, permanent
reservoir monitoring 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 principal 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
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock
Exchange (OSLO: TGS).
For additional information about this press release please contact:
Chief Financial Officer
Tel: +47 47 60 33 34
Director Investor Relations and M&A
Tel: +1 713 860 2184
Stein Ove Isaksen
Senior VP Eastern Hemisphere
Tel: +47 66 76 99 00
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