TGS Charters Additional 2D Vessel Capacity

Friday, January 12, 2007
TGS-NOPEC Geophysical Company ASA (TGS) has signed a two-year charter agreement with BGP for a 2D seismic vessel to be named the M/V BGP Atlas. BGP is currently outfitting the M/V BGP Atlas with state-of-the-art equipment and technology, and is scheduled to deliver it to TGS in June 2007. TGS plans to deploy the vessel initially in the North Sea during the summer season. TGS has the option to extend the vessel contract by two consecutive one-year periods under the same commercial terms. With this agreement TGS has now secured access to three 3D crews and six 2D vessels for all or parts of 2007, enabling the company to continue aggressively expanding its multi-client database.
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