TGS-NOPEC Completes Phase 50 GOM Seismic Program

TGS-NOPEC Geophysical has completed acquisition of Phase 50, a Louisiana shelf seismic survey designed specifically to image the Deep Gas exploration play. Already one year into the project, the Company will now focus on completing the processing of the collected data and the creation of derivative products.

Phase 50 includes more than 45,500 kilometers of 2D data that will improve the image of deeper targets on the Louisiana shelf. The program was shot in a 2x2 mile grid using 8,000-meter streamers. Approximately 33,000 kilometers of final Phase 50 pre-stack time migration is available for delivery now, and the complete survey is expected to be available in January 2004. A pilot program of 3,300 kilometers of pre-stack depth migrated seismic is also already available, with the balance of the data being processed for delivery in late 2004. Phase 50 provides the industry's only regional AVO products available on the Louisiana shelf based on 8,000-meter offsets, critical in reducing the exploration risks associated with deeper wells.

Data from Phase 50 will be incorporated into TGS-NOPEC's Deep Shelf Interpretation Study, a series of deep regional maps based on sequence boundaries along with interpretations of top/base salt, welds, and faults. In addition, a velocity database interpretation ("VDIP") calibrated with check-shot velocity surveys is also being created.

In conjunction with this project, TGS-NOPEC's wholly owned subsidiary A2D Technologies offers a complementing package of digital workstation-ready (WSR) well logs. Consisting of logs from 500 wells drilled deeper than 15,000 feet within the Phase 50 survey area, the package provides an excellent starting point for exploring the Deep Gas play on the Louisiana shelf. TGS-NOPEC offers delivery of seismic and well log data via a single integrated package ready for use in multiple workstation formats.