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TGS Announces Completion of Gulf of Mexico Depth Imaging Program

Posted on: Tuesday, 7 March 2006, 09:02 CST

TGS-NOPEC Geophysical Company (TGS) announced today that it has completed the pre-stack depth migration (PSDM) of over 750 OCS blocks (17,250 square kilometers) of deepwater Gulf of Mexico 3-D seismic data. The data is located primarily in the Mississippi Canyon area of offshore Louisiana. TGS' Mississippi Canyon Multi-Client 3-D Survey (MC3D) has been widely licensed in the industry and now the Mississippi Canyon Revival Depth Program has been well received.

"The Revival Depth Migration project was created to provide our clients with a regional depth image to evaluate the increasing number of lease blocks that will become available in the Mississippi Canyon OCS area over the next three years. We are very pleased with the quality of the depth image and believe that this data will be invaluable in assessing the exploration and development potential in this highly prolific hydrocarbon area," said Karen El-Tawil, TGS Vice President NSA Sales.

TGS' Imaging division performed the advanced data processing for the Revival Depth program utilizing its proprietary PRIMA(TM) Wave Equation Pre-Stack Depth Migration software. The resulting data demonstrates clearer, more accurate images of the salt geometry and the prospective sediments below salt. TGS Imaging can provide additional customized depth migration iterations to individual oil companies that have licensed the Revival Depth product.

To aid oil companies in the geological understanding of the area, TGS also offers complementary AVO products, rock property volumes, pore pressure volumes and synthetic seismograms.

TGS-NOPEC Geophysical Company (TGS) is a leading global provider of multi-client geoscientific data, associated products and services to the oil and gas industry. TGS specializes in the creation of non-exclusive seismic surveys worldwide. The Company also provides advanced depth imaging solutions and software through its TGS Imaging division. Well log data is available for conversion, sourcing, management and immediate delivery through TGS subsidiary, A2D Technologies. Multi-client interpretive products and subsurface consulting services are provided through the Company's Aceca subsidiary. The TGS family of companies places a strong emphasis on providing high-quality data and the highest level of service to the industry.

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO:TGS).

Source: Business Wire

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