TGS has signed a three year sales, marketing and 2D seismic Cooperation Agreement with Dalmornefte Geophysica Yuzhno- Sakhalinsk (DMNG) in the Arctic region, east and west of the Bering Strait. The Cooperation Agreement includes industry funded 2D operations performed in Russian waters during Q3 2010, which will serve as a foundation for additional work in 2011 and 2012.
"It is important for TGS to return to the Arctic region and add data coverage in an area that is believed to hold huge hydrocarbon volumes. We have had a long and positive relationship with DMNG and are delighted to extend our relationship into additional high-quality projects in the Russian arctic," commented Kjell E. Trommestad, VP and General Director Europe for TGS.
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