Business Services Industry
Global Geo Services ASA and TGS-NOPEC Geophysical Company ASA carry out joint survey in the Gulf of Mexico
Nordic Business Report, Oct 25, 2007
NORDIC BUSINESS REPORT-25 October 2007-Global Geo Services ASA and TGS-NOPEC Geophysical Company ASA carry out joint survey in the Gulf of Mexico(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Norwegian geophysical companies Global Geo Services ASA and TGS-NOPEC Geophysical Company ASA announced on Thursday (25 October) an agreement to combine resources to carry out a 28,000-kilometre multi-client 2D survey in the Gulf of Mexico.
The survey relates to the 181 South ("Big Wave Phase III") area.
The project is supported by pre-funding from several oil companies.
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As part of the agreement Global Geo Services will receive a USD3.1m compensation from TGS-NOPEC.
Global Geo Services, headquartered in Oslo, Norway, provides multi-client seismic data to the oil industry. The company is listed on the Oslo Stock Exchange and traded under the ticker symbol GGS.
TGS-NOPEC, headquartered in Asker, Norway, provides geoscientific data products and services to the oil and gas industry. the company is in the process of merging with Wavefield Inseis ASA to create TGS Wavefield. TGS-NOPEC is listed on the Oslo Stock Exchange and traded under the ticker TGS.
One British pound (GBP) is worth approximately 2.05 US dollars (USD).
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