Press Releases

TGS and Spectrum announce collaboration on expanded Santos Basin Multi-Client 3D Survey

ASKER, NORWAY (16 October 2018) - TGS and Spectrum have joined forces and expanded the Santos 3D program to 15,000 square kilometers over the prospective southern Santos Basin offshore Brazil. TGS and Spectrum will be equal partners with data processing and imaging to be performed by TGS.  The survey covers an area south of the high-profile discoveries of the Santos Basin and the recent sought-after blocks offered in Rounds 2,3,4,5 and 15.

Rune Eng, CEO Spectrum, comments, "Spectrum is excited to cooperate with TGS in this survey over such a highly prospective area. The two companies will be working together to unlock the southern Santos Basin for exploration. The Santos Basin is one of the hottest exploration basins in the world with a high potential for further discoveries in deep water."

Kristian Johansen, CEO TGS, comments, "TGS is extremely pleased about this collaboration with Spectrum.  This will be our second major investment in Brazil this year, expanding TGS' commitment to this significant exploration play."

Santos Basin

 

About TGS

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.

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. 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.

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Sven Børre Larsen

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