TGS-Nopec teams with WesternGeco for GoM project

OSLO, Dec 7 (Reuters) - Norwegian seismic surveyor TGS-Nopec (TGS.OL: Quote, Profile, Research, Stock Buzz) has agreed to cooperate with U.S. oilfield services group Schlumberger's (SLB.N: Quote, Profile, Research, Stock Buzz) WesternGeco seismic unit for a multi-client project in the Gulf of Mexico starting in 2008.

"TGS and WesternGeco will equally share revenues and costs associated with the project," TGS-Nopec said in a statement. It gave no financial details.

WesternGeco will gather and process the data, while TGS-Nopec will be responsible for the sales, TGS said.

TGS-Nopec said it regreted that its merger partner Wavefield Inseis (WAVE.OL: Quote, Profile, Research, Stock Buzz) declined to participate.

(Reporting by John Acher)