Polarcus Signs 2016 Vessel Charter Agreement with TGS
Polarcus Limited is pleased to announce that the Company has signed a Letter of Intent (“LOI”) with TGS-NOPEC Geophysical Company ASA (“TGS”) for the charter of an estimated six months of 3D vessel capacity from Polarcus in 2016 in order to acquire a number of individual projects in line with …
Polarcus Signs Agreement with TGS to Extend 3D Vessel Charter, Offshore Norway
Reference is made to the stock exchange notice published by Polarcus Limited on 09 April 2015 regarding the announcement of a Letter of Award from TGS-NOPEC Geophysical Company ASA for a 3 month charter of the Company’s 3D seismic vessel, POLARCUS ADIRA, with an option for a further charter. Polarcus …
TGS: Appoints Sven Børre Larsen As CFO
TGS is pleased to announce the appointment of Sven Børre Larsen as the Company’s new Chief Financial Officer. The effective date of Mr. Larsen’s employment is yet to be determined, but will be no later than December 1, 2015. Mr. Larsen will be based in TGS’ Asker office. Most recently, …
TGS and Dolphin Team Up For Hammerfest Basin MCS
TGS announces that it has signed a joint venture agreement with Dolphin Geophysical (DOLP) to acquire 4,500 km2 3D multi-client seismic survey over the western part of the Hammerfest Basin in the Barents Sea. The survey will provide industry with broadband data over APA acreage not previously covered by modern …
TGS: Commences Cost Reduction Program – 10% of Workforce to Go
TGS announced a Cost Reduction Program reflecting the deterioration of the market for seismic data seen in the first quarter of 2015. Based on preliminary reporting from operating units, TGS management now expects net revenues for the first quarter of 2015 to be approximately USD 172 million, about 23% lower …
TGS: Record Fourth Quarter Helps to Achieve Annual Guidance
Following its update on 13 January, TGS now confirms net revenues of USD 298 million in Q4 2014, up 10% from USD 271 million in Q4 2013 and representing a record high for the Company. TGS achieved its 2014 guided revenues with full year net revenues of USD 915 million, …
TGS: Kristian Johansen Appointed COO
The Board of TGS is pleased to announce the appointment of Kristian Johansen to the newly created role of Chief Operating Officer (COO), effective 1 February 2015. Kristian joined TGS in 2010 as Chief Financial Officer. Prior to joining TGS, Kristian was the Executive Vice President and CFO of EDB Business …
TGS and EMGS Expand Coverage of 3D Electromagnetic Data over the Barents Sea
TGS and Electromagnetic Geoservices ASA (EMGS) have agreed to further expand the Companies’ previous cooperation agreement in the Barents Sea. TGS will partner with EMGS to acquire electromagnetic (EM) data over approximately ten new blocks in the Nordkapp and Tiddly areas. The new 3D EM data will be acquired by …
TGS Announces Commercial Agreement to Sell Fugro’s 2D Multi-client Library
TGS-NOPEC Geophysical Company ASA announces a commercial agreement to sell Fugro’s 2D multi-client library. As a result of this agreement, Fugro provides TGS with an exclusive right to licence and market the majority of Fugro’s multi-client 2D library and receive commission fees on the sales of this data. The agreement …
TGS Signs Letter of Intent for 3D Vessel With CCGVeritas
TGS announces that it has signed a Letter of Intent with CGGVeritas Services S.A. to charter a 12 streamer vessel, for 3D multi-client projects in Europe during the 2013 summer season. The charter will begin in April and last for approximately six months. The details of the individual projects to be completed under this charter will be announced separately