Seismic Specialists TGS: Revenue Up, New Survey Contracts

MarineLink
Thursday, January 09, 2014
Seismic data acquisition: Image CCL

Norway-based TGS, report record high late sales in the fourth quarter of 2013, and inform of four new multi-client surveys: a 3D survey in offshore Northwest Australia, two 2D surveys offshore Madagascar and a 3D survey onshore Alberta, Canada.

Net revenues
Based on preliminary reporting from operating units, TGS management expects net revenues for the fourth quarter of 2013 to be approximately USD 270 million, bringing total estimated net revenues for 2013 to approximately USD 882 million. The company has previously guided full year revenues of USD 810 - 870 million, and the positive deviation is mainly caused by record high late sales in the fourth quarter.

Latest contracts
The Huzzas is a 2,100 km2 3D survey that will cover the Barrow Sub-basin, offshore Northwest Australia. The data is being acquired by the M/V Geo Caspian using CGG's  BroadSeisTM and BroadSourceTM technologies.

The two separate CSM-14 and AN-14 2D surveys cover 8,847 km offshore Madagascar. CSM-14 is being acquired by the M/V Geo Arctic and AN-14 by the BGP Challenger.

Washout Creek, a 65 km2 3D / 3C survey, will cover the West Pembina area of Alberta, Canada.
In addition, TGS says it has signed a Letter of Award with Polarcus to utilize their vessel, the Polarcus Naila. Contingent on execution of final contractual documents, the charter will begin in April 2014 and will last for a period of six months.
 

 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Contracts

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

Havyard to Build Hybrid Battery Arctic PSV

Norway's Havyard says it has signed a contract for the construction of a Havyard 833 WE ICE platform supply vessel with Fafnir Offshore HF. The vessel is to be

Finance

Saudi SABIC Q1 Profit Falls 1.8 % On Product Prices

Profit at Saudi Basic Industries Corp (SABIC), one of the world's biggest petrochemical firms, slipped 1.8 percent in the first quarter of this year as lower

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue.

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Offshore Energy

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Years After BP U.S.Oil Spill: Compensation Battle Rages

Four years after the Deepwater Horizon spill, oil is still washing up on the long sandy beaches of Grand Isle, Louisiana, and some islanders are fed up with hearing from BP that the crisis is over.

 
 
Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1368 sec (7 req/sec)