Russia: TGS Signs Cooperation Agreement with DMNG in Arctic Region

TGS has signed a three year sales, marketing and 2D seismic Cooperation Agreement with Dalmornefte Geophysica Yuzhno- Sakhalinsk (DMNG) in the Arctic region, east and west of the Bering Strait.

The Cooperation Agreement includes industry funded 2D operations performed in Russian waters during Q3 2010, which will serve as a foundation for additional work in 2011 and 2012.

“It is important for TGS to return to the Arctic region and add data coverage in an area that is believed to hold huge hydrocarbon volumes. We have had a long and positive relationship with DMNG and are delighted to extend our relationship into additional high-quality projects in the Russian arctic,” commented Kjell E. Trommestad, VP and General Director Europe for TGS.

Company summary

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. TGS designs and acquires multi-client data projects worldwide that make up the company’s data library of seismic, gravity/magnetic and well data, enhanced by TGS’ seismic imaging technology and regional interpretation expertise.

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Source:TGS , January 4, 2011;