TGS Signs LOI for 3D Vessel

TGS has signed a Letter of Intent with CGGVeritas to charter a high capacity vessel for 3D multi-client projects in Europe during the 2011 summer season. The charter will begin before the end of April and will last for approximately 4 months. The agreement also provides an option for TGS to extend the charter in two 6 month increments under fixed commercial terms.

The details of the individual projects to be completed under this charter will be announced separately.