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TGS Announces Swanson 3D Multi-client Program Onshore Canada

·2-min read
TGS
TGS

OSLO, Norway (29 August 2022) - TGS, a global provider of energy data and intelligence, today announced Swanson 3D, a new onshore multi-client 3D seismic survey within the Montney Basin of Northeast British Columbia, Canada.

The Swanson 3D project will add over 100 square kilometers of high-quality seismic data, complimenting the extensive 3D seismic coverage within the core area of the Montney Basin. Phase IV of TGS’ low-impact source testing will be applied throughout the project, reinforcing our commitment to dramatically lowering environmental footprints throughout seismic acquisition projects. Through cooperation with the area’s Stakeholders and several First Nation Communities, the pre-planning for Swanson 3D is well underway. Fuel emissions recording, reduced line widths, no-cut areas and low-impact source methods will be prevalent throughout the project.

Kristian Johansen, CEO at TGS, commented, “The Swanson 3D project is another great addition to TGS’ high-quality seismic data coverage in the Montney Basin, further expanding our extensive library onshore Canada. From seismic to well log and interpretation datasets, combined with our commitment to sustainable operations, we are uniquely positioned to help our customers gain subsurface insight and provide significant benefits to their exploration and production efforts.”

Acquisition will commence in Q4 2022, with data delivery expected in May 2023.

This project is supported by industry funding.

About TGS
TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices.  Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

For more information, visit TGS.com or contact:

Sven Børre Larsen
Chief Financial Officer
investor@tgs.com

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