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Monday 21 June, 2021

TGS

TGS Announces New 3D Imaging Program in the U.S. Gulf of Mexico

TGS Announces New 3D Imaging Program in the U.S. Gulf of Mexico

OSLO, Norway (21 June 2021) - TGS, a global provider of energy data and intelligence, today announced Sophies Resolve Refocus 3D, an OBC and NAZ imaging program in the U.S. Gulf of Mexico.

The program includes approximately 6,175 square kilometers of reprocessed 3D seismic data to provide a high-quality regional product, helping E&Ps further explore new and existing plays in this area. Sophies Resolve Refocus 3D marks the next phase of high-quality imaging over the mature, hydrocarbon-producing areas of South Timbalier, Grand Isle and Ewing Bank. By applying advanced imaging techniques utilizing its proprietary Dynamic Matching FWI imaging technology in this highly successful region, TGS will further illuminate the key subsurface structures and provide new insight into the prospectivity within the deeper sub-salt section. Additionally, reprocessing the dataset provides a sustainable way to improve the subsurface knowledge in the region, further advancing the Company’s overall commitment to lowering environmental footprints.

Kristian Johansen, CEO at TGS, commented, “The Gulf of Mexico remains a top priority for TGS. By utilizing the latest imaging techniques, this program provides our customers with the most comprehensive view of the subsurface so they can make the best decisions about their investments – underpinning our commitments to customer service and sustainable operations. Having the best possible understanding of the subsurface also allows TGS to optimize future acquisition investments.”

The project commenced in Q2 of 2021, with final data available in Q3 2022.

The project is supported by the industry.

About TGS
TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

Forward Looking Statement
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 product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices.  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.

For more information, visit TGS.com or contact:

Sven Børre Larsen

SVP Strategy
+47 90 94 36 73
[email protected]

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