NASDAQ OMX

The Republic of Guinea's first offshore Licensing Round announced

12.6.2017 19:38 | NASDAQ OMX

Dela

ASKER, Norway, June 12, 2017 (GLOBE NEWSWIRE) -- Diakaria Koulibaly, CEO of ONAP, announced the country's first offshore Licensing Round at the NOC assembly, in Paris.

The round will be open for six months from October 2017, with awards expected by October 2018. Companies will be able to submit bids on all open blocks.

"This is an exciting time for The Republic of Guinea. The recent successes in the Northern MSGBC Basin have increased the industry interest in this relatively under explored region, and this chain of success will steadily and inevitably flow down south to us. We currently have an active rig in our waters, drilling what we hope will be the first of many commercial successes," commented Diakaria Koulibaly, CEO of ONAP.

TGS has ~14,000 km of modern, high quality 2D data coverage over the blocks on offer. Click here to learn more.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7c24918b-cedf-43af-9d9a-c8e915b5c679

Company Summary
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide.  In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.

For more information visit TGS online at  www.tgs.com .

Forward-looking statements and contact information
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principle customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data products at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

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

TGS sponsored American Depositary Shares trade on the U.S. over-the-counter market under the symbol "TGSGY".

For additional information about this press release please contact:

Sven Børre Larsen
Chief Financial Officer
Tel: +47 90 94 36 73
Email: sven.larsen@tgs.com   

Will Ashby
VP HR & Communication
Tel: +1 713 860 2184
Email: will.ashby@tgs.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TGS via Globenewswire

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