CALGARY, BC--(Marketwire - Oct 4, 2012) - TGS, through its newly acquired wholly-owned subsidiary, Arcis Seismic Solutions, is pleased to announce the Cameron River 3D survey, a 470 km2 (181.5 mi2) onshore 3D multi-client project located in NE British Columbia, Canada.
The survey will be acquired along the prolific liquids-rich Triassic Montney and Doig unconventional fairways. High resolution seismic will enable exploration for stratigraphic and structural traps and will illuminate the Cretaceous through Devonian section.
Brad Torry, Managing Director of Arcis, commented, "We are thrilled to add seismic data to an extensive onshore library in Canada where there have been record seismic land sales over the past four years." "This project demonstrates TGS' ongoing commitment to grow the Arcis business with continued investment in the highly prospective Canadian market," stated Rod Starr, Senior VP Western Hemisphere for TGS.
The seismic data will be processed by Arcis. Intermediate products will be available to the industry in Q1 2013 with final data available in Q2 2013. The survey is supported by industry funding.
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 reason.
TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO: TGS).