TGS begins seismic program offshore Russia

Offshore staff

(Russia)-Seismic acquisition provider TGS-Nopec Geophysical Company will acquire a new multi-client 2D seismic program in the Sea of Okhotsk near Sakhalin Island in partnership with Dalmorneftegeofizika (DMNG). This season's seismic program is expected to be approximately 15,000 km, based on strong pre-funding and industry interest.

TGS will commence acquisition in early July utilizing two vessels. DMNG will process the survey in its Yutzhno Processing Center and expects to deliver the final report by the 1Q of 2007. Upon completion, TGS and DMNG will have approximately 40,000 km of modern 2D seismic coverage available to clients in the Sea of Okhotsk.

TGS has also signed a charter agreement with Shanghai Offshore Petroleum Geophysical Corporation (Sopgc) to utilize the newly upgradedDiscoverer 2 2D seismic research vessel. The charter agreement specifies a minimum 12-month term as well as two options for TGS to extend the charter by six-month periods under the same commercial terms. The company plans to utilize the vessel initially in the Sea of Okhotsk.

4/27/2006