Multi-Client Survey Commenced by TGS Offshore Namibia

TGS has commenced a new 15,000 km multi-client 2D seismic survey offshore Namibia.

TGS considers this region to have significant exploration potential and is pleased to acquire new data that both complements and extends TGS' existing seismic coverage in the area. The survey grid covers open acreage and images the main prospective plays due for drilling in 2011/2012.

Offshore Namibia is significantly underexplored and has the potential to hold large oil and gas discoveries. The positive mix of play types in the TGS survey area include basin floor turbidites, slope fans and channels, significant syn-rift structures and plays similar to those offshore Angola. Recent studies have also shown additional strong hydrocarbon indicators in significant structures.

The seismic data is being acquired by the M/V Northern Explorer. Data processing will be performed by TGS and data will be available to clients 1Q 2012.

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