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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  TGS-Nopec Geophysical Company ASA    TGS   NO0003078800

TGS-NOPEC GEOPHYSICAL COMPANY ASA

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TGS Nopec Geophysical : Acquires Pioneering New OBN Survey in Atlantic Margin

08/24/2020 | 01:56am EST

Oslo, Norway (24 August 2020) - TGS, a leading provider of multi-client geoscience data for exploration and production companies, today announced the successful deployment of a pioneering sparse ocean bottom node (OBN) survey in the Atlantic Margin off the coast of mid Norway. This initial study phase is being conducted primarily to provide proof of concept ahead of anticipated further survey proposals to further highlight hydrocarbon potential in the region.


The OBN survey, conducted in collaboration with Polarcus, has been deployed to coincide with the acquisition of the TGS AM20 seismic survey at the same location to enhance efficiencies and combine the recorded OBN data with conventional 3D streamer data to improve imaging of sediments below complex volcanic deposits.


Rune Eng, Executive Vice President, International at TGS, stated, 'With this study TGS intends to lead the way in providing the oil and gas industry in NW Europe with a cost-efficient OBN acquisition solution to both enhance geological understanding and refine velocity modeling within key license blocks.'


TGS is conducting similar surveys in the Gulf of Mexico, namely Amendment and Engagement. Fast track results from last year's Amendment sparse node program have already provided impressive imaging uplift and enhanced velocity accuracy, especially when combined with TGS' proprietary Dynamic-Matching Full Wave Inversion (DM FWI) technology. TGS continues to develop these technologies to resolve complex imaging challenges in other basins across the globe.


About TGS
TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.


For more information visit TGS online at www.tgs.com, or contact:

Jaclyn Townsend
Director, Corporate Marketing
jaclyn.townsend@tgs.com

Disclaimer

TGS-NOPEC Geophysical Company ASA published this content on 24 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2020 05:56:39 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 421 M - -
Net income 2020 -153 M - -
Net cash 2020 190 M - -
P/E ratio 2020 -10,8x
Yield 2020 4,65%
Capitalization 1 655 M 1 656 M -
EV / Sales 2020 3,48x
EV / Sales 2021 3,36x
Nbr of Employees 666
Free-Float 64,0%
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Average target price 13,22 $
Last Close Price 14,12 $
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Kristian Kuvaas Johansen Chief Executive Officer
Henry Haywood Hamilton Chairman
Jan Schoolmeesters Executive Vice President-Operations
Fredrik Amundsen Chief Financial Officer
Zhi Ming Li SVP-Data Processing, Research & Development
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