TGS NOPEC Geophysical Co ASA and Fugro NV Commence Expansion of 2D Multi-Client Survey in Northeast Greenland

TGS NOPEC Geophysical Co ASA (TGS) announced that it has commenced expansion of a 2D multi-client survey covering 3,000 kilometers in Northeast Greenland in partnership with Fugro NV. The survey, NEG12, will enable customers to prepare for the announced Greenland Licensing Round in 2012/2013 and will be an addition to a data set that TGS and Fugro have been growing since 2008. With 2012 data acquisition, TGS will be able to offer approximately 7,500 kilometers of multi-client 2D data, a volume of reprocessed multi-client 2D data and full coverage of aeromagnetic/gravity data over and adjacent to the basins that are included in the announced licensing round. The seismic data is being acquired by the M/V Akademik Shatskiy supported by the ice breaker M/V Viking Balder. A helicopter is being utilized for ice density monitoring. The survey is scheduled to complete during the third quarter of 2012. Data processing will be performed by TGS and data will be available to clients before December 15, 2012, application deadline of the first licensing round in these waters. The survey is supported by industry funding.