TGS-NOPEC Commences Acquisition of New Makassar Survey

TGS-NOPEC Geophysical Company has commenced the acquisition of a new non-exclusive 2D survey in waters of Indonesia's Makassar Strait, South East Asia. The 5,200 kilometer CM04 survey will complement and infill data acquired by the company's earlier MDD99, CM01 and CM02 surveys. Industry pre-funding supports the survey.

Modern, high quality data will be acquired over part of the West Sulawesi Fold Belt, which was largely unknown prior to TGS-NOPEC commencing work in the area.

The new dataset will enable petroleum explorers to better define the geological history of the area, which has already attracted significant interest from the global exploration community. The area covered by CM-04 is likely to be offered in a bid round by the Indonesian Government during the second half of 2005.

The TGS-NOPEC non-exclusive seismic database in the Straits of Makassar will total in excess of 25,000 kilometers of 2D data upon conclusion of the survey.