TGS Acquires Exclusive Sales Rights to Barents Sea 2D Siesmic Data

TGS-NOPEC Geophysical Company has concluded an agreement with Tokking Surveys AS for the exclusive sales rights to approximately 131,000 kilometers of reprocessed 2D seismic in the Norwegian Sea and Barents Sea, offshore Norway.

The surveys consist of reprocessed data vintages ranging from 1997 to 2005, and are complementary to TGS's existing data library in Norway. These data, including a detailed interpretation, offers a cost effective and quick start to exploration of the Norwegian and the Barents Sea for newcomers in particular.

TGS paid NOK 11.0 million for the rights. As TGS and Tokking Surveys have collaborated on a number of reprocessing projects since 2000, TGS already had an approximate 45% interest in 70,000 kilometers of the Tokking marketed surveys prior to this transaction.