TGS strikes new partnerships

May 23, 2013

TGS-NOPEC Geophysical Company (TGS) announced at its Capital Markets Day that it will embark on several new partnerships.

TGS and Electromagnetic Geoservices ASA (EMGS) agreed to jointly development multi-client projects in defined areas in northwestern Europe. EMGS says the agreement gives the company access to TGS' 2D seismic data in order to plan new 3D controlled-source electromagnetic (CSEM) projects, while TGS obtains 2D/3D CSEM data to design and acquire new 3D seismic projects.

"This agreement underpins our strategy to integrate 3D EM with seismic data in the exploration workflow and provides further evidence of increased industry recognition of our technology," CEO of EMGS, Roar Bekker, said. "We look forward to developing projects with TGS and expanding our multi-client footprint."

TGS also signed a three-year partnership agreement with BGP to jointly acquire, process and market 2D and 3D multi-client seismic data offshore Madagascar and East Africa. The agreement includes an initial 2D multi-client 13,135 km seismic survey in west Morondava, offshore Madagascar.

Additionally, TGS and Magseis have signed a letter of intent to establish an exclusive multi-client partnership using new ocean bottom seismic technology. Joint projects are currently in the planning stage.

TGS also announced at its Capital Market Days that it has commenced the Francisco 3D, a 4,662 km2 multi-client 3D survey in the Atwater Valley area of the central Gulf of Mexico. The company says this is the first 3D survey in this frontier area of the Gulf of Mexico.

Similarly, the company also said that it will return to Denmark, after 14 years, to conduct a 7,000 km multi-client 2D survey acquisition. TGS says data will be available prior to the Danish 7th round, planned for later this year.

TGS will use its proprietary Clari-FiTM technology for broadband processing on both the Francisco 3D and Denmark jobs.



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