Norway: TGS to Charter M/V Polar Duke from Dolphin Geophysical

TGS announces that it has signed a Letter of Intent with Dolphin Geophysical AS to charter the M/V Polar Duke for 3D multi-client projects in Europe during the 2011 summer season. The charter will begin in May 2011 and will last for a minimum of 3 months. The agreement also provides an option for TGS to extend the charter in two increments (2 + 6 months) under fixed commercial terms.

The details of the individual projects to be completed under this charter will be announced separately.

TGS-NOPEC Geophysical Company (TGS) provides global geoscience data products and services to the oil and gas industry for the exploration and delineation of hydrocarbon reserves. We design and acquire multi-client data projects worldwide that make up our data library of seismic, gravity/magnetic and well data, enhanced by our seismic imaging technology and regional interpretation expertise.

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Source:TGS , April 6, 2011; Image:Rieber-Shipping