Norway: TGS Faces Tax Evasion Charges

Økokrim, the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime, presented yesterday a criminal charge against TGS for violation of the Norwegian Tax assessment Act and the Norwegian Securities Trading Act related to a contract entered into with Skeie Energy AS, later known as E&P Holding AS, in 2009, TGS said in a release.

In connection with the criminal charge, Økokrim visited the offices of TGS in Asker with a search warrant to investigate the matter.

“TGS is fully cooperating with Økokrim to disclose all facts of this matter. TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide,” TGS added.

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Press Release, May 7, 2014, Image: Wikimedia