TGS Taps Polarcus for First Released 3D Vessel

TGS signed a conditional Letter of Intent with Polarcus Limited to utilize their first released vessel, the 12 streamer Polarcus Nadia. The charter will begin in December, 2009 and last for approximately 3 months with options for TGS to extend the charter in two 6 month increments under fixed commercial terms.

The vessel design incorporates many new and innovative features ranging from the distinctive ULSTEIN X-BOW® hull to the Selective Catalytic Reduction (SCR) system, designed to maximize operational performance and minimize emissions. The sophisticated double hull design also incorporates a range of advanced safety features including a DP 2 dynamic positioning system.

"We are excited, looking forward to work with this new, promising vessel provider when expanding our Multi-Client data library further," Robert Hobbs, TGS Chief Executive Officer, commented.