TGS announces Carlsen 3D multi-client project in Norway

ASKER, Norway, March 13, 2017 -- TGS announces new multi-client acquisition project, Carlsen 3D in Barents Sea, Norway.

Carlsen 3D (CAR17 3D) is a 5,490 km2 multi-client survey in open acreage located in the Southwest Barents Sea between the Tromsø and Sørvestnaget Basins. Multi-level targets exist within Pre-Cretaceous, Cretaceous and Paleogene throughout the area – leads include rotated fault blocks and sand injectites. Acquisition is expected to commence in April 2017. Data processing will be performed by TGS using its Clari-FiTM broadband technology to image the complex fault patterns in this prospective area.

“Carlsen 3D will expand TGS’ data coverage in the Barents Sea where we have a strong track record of success.  This project will provide modern, high quality seismic data to an area that is expected to be of high interest in upcoming licensing rounds,” commented Kristian Johansen, CEO for TGS.

This survey is supported by industry funding.

More information on this survey is available here.

A PDF accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/ec9f92b6-0013-4ac9-9647-feb88a0b5d30

Company summary      
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, 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 principle 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 (OSLO:TGS).

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY”.

For additional information about this press release please contact: 

Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: [email protected]

Will Ashby
VP HR & Communication
Tel: +1 713 860 2184 
Email: [email protected]