2013-03-18 09:14:59 -
ASKER, NORWAY (18 March 2013) - 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
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
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 reason.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange
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
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: TGS via Thomson Reuters ONE