TGS-NOPEC Geophysical Company ASA, a global provider of energy data and intelligence, will begin operating under the new name of TGS ASA. TGS ASA reflects both the evolution of the company as well as its vision for the future.
Kristian Johansen, CEO at TGS, commented, “As part of our new strategy to provide deeper insights and understanding across the energy spectrum, our board and management believe it was appropriate to rename our company to more specifically reflect this vision. We are excited about our new company name TGS ASA because it allows us to better represent our business to our customers and stakeholders and further positions us to meet the energy industry where it’s at and where it’s headed.”
In another development, TGS in partnership with PGS, announced that it has commenced acquisition of the Cape Anguille 3D program. This program expands the TGS-PGS joint venture with an additional 10,000 square kilometers of 3D coverage offshore Newfoundland.
The survey covers existing lease blocks and open acreage in the prospective Orphan Basin. The Orphan Basin has, among others, potential Cretaceous and Tertiary infill depocentres. The data acquired and processed will include Kirchhoff 3D PSTM volumes, and PGS’ Ramform Titan will perform the long offset acquisition, utilizing Geostreamer® technology.
Kristian Johansen, CEO at TGS, commented, “The TGS and PGS joint venture offshore East Canada has successfully and consistently provided the industry with the highest quality data in advance of scheduled lease rounds. The Cape Anquille 3D survey will be instrumental in assessing potential prospects that have initially been identified from our comprehensive 2D library in the region. Leads have been identified from seismic and work supported by amplitude variations (AVO). Our combined seismic, well log and interpretation datasets provide the industry with invaluable subsurface insight. This data will enable our clients to provide improved geophysical and geological insights to de-risk their exploration activities and prepare for upcoming licensing rounds. TGS is working with our partner PGS to build on this project to make this part of a two vessel season.”
Rune Olav Pedersen, President and CEO of PGS commented, “Canada remains a good investment for explorers and for the 11th year and we experience solid industry interest for expansion of our high-quality multi-client library offshore Newfoundland. We will deploy two Ramform Titan-class vessels for the full season with GeoStreamer technology, a tailored towing configuration and advanced imaging workflows to deliver data that can provide significant insights to help de-risk the prospects and plays offshore Canada.”
Fast Track Kirchhoff PSTM stacks are scheduled to be delivered by November 2021. Final Kirchhoff PSTM stacks are expected to be delivered to TGS Data by March 2022
This project is supported by industry funding.
