TGS Sees Sales Growth of 25% as Exploration Spending Expands
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TGS-Nopec Geophysical ASA, a Norwegian oilfield surveyor, expects sales to rise as much as 25 percent this year as energy explorers step up the search for deposits offshore.
Net revenue will reach $700 million to $760 million, up from $609 million in 2011, the Asker-based company said today in a statement. Surveys for individual clients will account for about 5 percent, while data sold in non-exclusive, or multiclient, permits will reap as much as $365 million, it said.