TGS NOPEC GEOPHYSICAL COMPANY ASA

TGS NOPEC GEOPHYSICAL COMPANY ASA

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Company Overview
TGS Nopec Geophysical Company ASA, is a leading global provider of non-exclusive seismic data, products and services to the oil and gas industry. The company principally provide geoscience data and associated products, software and services.
TGS Nopec is a Norwegian based company that was formed in 1998 when TGS CALIBRE and Nopec International merged. The company is listed on the Oslo Stock Exchange. The company strives with the aim of improving working conditions, ensure better service for their clients and to contribute to profitability.
It specializes in the planning, acquisition, processing, interpretation and marketing of non-exclusive surveys worldwide. It also offers a range of tools necessary to explore hydrocarbons in mature and virgin regions of the world. In addition, the company develops, manages, conducts, and sells seismic surveys, primarily serving the North Sea and Gulf of Mexico regions. The seismic surveys provides comprehensive images to aid in the exploration of oil and gas. Its operations are carried out through three segments namely 2D Seismic, 3D Seismic and Digital Well Logs.
TGS holds one of the industry’s largest and youngest collections of 2D and 3D multi-client data along with the most extensive online database of digital well logs.
Business Summary
The Company is a global provider of geoscience data and associated products & services to the oil and gas industry. A2D Technologies, a subsidiary, pioneered the delivery of well log data over web.
Description and history
The Company is a global provider of geoscience data and associated products & services to the oil and gas industry. A2D Technologies, a subsidiary, pioneered the delivery of well log data over web.Oil companies use this seismic data to explore for and develop oil and gas deposits. The Company specializes in the planning, acquisition, processing, interpretation, and marketing of non-exclusive surveys worldwide. The Company places a strong emphasis on providing high quality seismic data and the highest level of service to the industry. The Company also offers proprietary seismic acquisition and processing services; as well as, gravity and aeromagnetic surveys.
The Company is listed on the Oslo Stock Exchange (OSLO:TGS).
History:
The Company Geophysical Company was formed in June 1998 as a result of the merger of TGS-CALIBRE Geophysical Company and Nopec International A.S. Both companies were founded in the early 1980’s by oil company executives who recognized the need for high quality, regional, non-exclusive seismic surveys. TGS-CALIBRE, a Houston based company, began in 1981 to build what has become the dominant 2D data library in the US Gulf of Mexico. Later, the Company expanded into other North American and West African markets while also establishing a very significant 3D portfolio in the Gulf of Mexico. Nopec International, an Oslo based organization, started the first of many highly successful non-exclusive surveys in 1981 with a Central Graben regional project in the North Sea. While growing, the Company’s industry leading North Sea database, Nopec established operations in Australia and the Far East, and, in 1997, became listed on the Oslo Stock Exchange. TGS and Nopec have set the standard for all multi-client data acquired around the world through a firm commitment to high quality products, exemplary customer service, reasonable costs, and coordination by a staff of experienced geoscience professionals. As a result, the Company’s products and services have thrived in both the up and down economic cycles of the oil industry. Today, the Company continues to aggressively expand its database to provide oil companies a cost-effective resource for global exploration and development.
Accomplishments:
The Company can boast several notable accomplishments in its sixteen-year history, including the recent completion (December 1998) of ‘Phase 45’, the largest single 2-D survey ever recorded. Over 100,000 kilometers of data were recorded over a 160,000 square kilometer area in the deepwater region of the Gulf of Mexico. Other products in the Company library include:
-Over 500,000 kilometers of 2-D seismic and 45,000 square kilometers of 3-D seismic data acquired in the Gulf of Mexico.
-Over 400,000 kilometers of 2-D seismic and 28,000 square kilometers of 3-D seismic data acquired in and around the North Sea.
-Over 85,000 kilometers of 2-D seismic data underway in Brazil.
-Over 100,000 kilometers of 2-D seismic data in Australia including an exclusive marketing agreement with AGSO (Australian Geological Survey Organization).
-Over 40,000 kilometers of 2-D seismic data on the West Coast of Africa.
-Over 15,000 kilometers of 2-D seismic data in and around Indonesia.
Multi-level regional structural, stratigraphic and velocity interpretations performed on the majority of its regional 2-D seismic coverage.
An exclusive agreement to market the offshore 3-D seismic surveys owned by Shell Oil Company in the Gulf of Mexico representing over 20,000 square kilometers of 3-D seismic data.
Non-exclusive seismic surveys or basin studies in Trinidad, onshore western Canada and Antarctica.
Experience in promoting exploration blocks for new licensing rounds in both Algeria and Nigeria.
Over 250,000 kilometers of non-exclusive aeromagnetic data.
Activities:
-New Frontiers:
In addition to ongoing seismic, magnetic and gravity acquisition in the North Sea, Gulf of Mexico, Australia, and Indonesia, has initiated long-term surveys in the new frontier areas of Nova Scotia, Brazil, and Sea of Okhotsk. A 34,000 kilometer 2-D seismic survey offshore Nova Scotia began in 1998, and will be completed by the end of 1999. The Company obtained exclusive rights to acquire 2-D non-exclusive data in eastern Russia. This program in the Sea of Okhotsk began in 1998 and is being acquired in co-operation with the Trust Dalmorneftegeofysika (DMNG). In addition, an 85,000 kilometer 2-D project began in April 1999 offshore Brazil in a Joint Venture with Schlumberger.
-Acquisition:
In September 1998, the Company launched the Northern Access, the third vessel in the Company fleet. This state-of-the-art 2-D acquisition platform can tow streamer lengths of 8 to 13 km and is capable of acquiring data in locations all around the world. The Company also operates the Odin Explorer and the Zephyr-1.
-Processing:
The Company recently announced the acquisition of Bedford Interactive Processing Services Ltd. (BiPS) located in Bedford, England. This corporate acquisition combined with the expansion of the Company’s Houston processing facility gives the Company the ability to provide customized 2-D and 3-D processing services in addition to supporting the processing requirements of the ever growing the Company’s fleet and an aggressive acquisition program.
-Onshore:
The Company’s Onshore Division specializes in managing proprietary 3-D programs and provides all necessary related quality control services. Project areas have ranged in the United States from the Texas Rio Grande Valley through the State of Mississippi and north into western Canada.
Over 200 companies worldwide have licensed or contracted for the Company’s projects and services. They continue to rely on and expect the high standard of the Company’s quality and service. The Company is a proven source for exploration resources for the requirements of an ever-changing industry. With its headquarters in Houston and offices in Oslo, Norway; Bedford, England; and Perth Australia, the Company is positioned to explore a world of opportunities.

The company was formed when TGS CALIBRE and Nopec International merged

Business Line
Provide geoscience data and associated products, software and services
Subsidiary
ACECA LIMITED
Advisor
ERNST & YOUNG AS
IPO date

US SIC Code
8713
Company Address
Hagalokkveien 13

City province or state postal code
1383, ASKER
Phone: +47 66 76 99 00
Fax: +47 66 76 99 10
Country address: NORWAY
Website url: www.tgsnopec.no