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TGS-NOPEC Geophysical Company: MMS Awards Digital Well Log Data Management Contract to TGS

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^{Published in Business and Finance on Wednesday, October 21st 2009 at 5:09 GMT by Market Wire}  

HOUSTON, TX--(Marketwire - October 21, 2009) - The US Department of Interior's Minerals Management Service (MMS) has entered into a new contract with [ TGS-NOPEC Geophysical Company ] (TGS) for well log data management services over the next 5 years in the Outer Continental Shelf (OCS). Under the agreement, TGS will also provide the MMS with historic data from the Gulf of Mexico. This agreement marks TGS' second term contract managing [ well log data ] for the MMS.

The MMS first selected TGS as their service provider for new-drill data management services in 2004. In this role, TGS acts as the collection point for all operator acquired well log data in the OCS regions. After receiving the data, TGS processes it to the MMS' standard and then serves as the official release agent to the public once the Operator's proprietary period has elapsed.

"We are honored that MMS has chosen TGS again for this contract," noted John Adamick, Senior VP Geological Products. "We look forward to serving MMS' well log data management needs over the next five years."

TGS' [ global well database ] includes nearly six million logs and other borehole data from key hydrocarbon provinces worldwide. The data is available online via LOG-LINE Plus!®, a data repository with search, order and download capabilities.

TGS-NOPEC Geophysical Company (TGS) is a principal resource for global geoscientific data products and services in the E&P industry. TGS specializes in the design, acquisition and processing of multi-client seismic surveys worldwide and delivers advanced high performance seismic imaging and software solutions. The Company also provides the world's largest online well-log database, well data management services, multi-client interpretive products and subsurface consulting services to industry. The suite of integrated exploration data products available from TGS is distinctive and unmatched. The Company philosophy is to create unique high-quality data collected in the right place at the right time.

TGS-NOPEC Geophysical Company ASA is listed on the Oslo Stock Exchange (OSLO: TGS).