TGS in Seismic Data Deal with Fugro

TGS announces commercial agreement to sell Fugro's 2D multi-client library.

The agreement covers more than 1,000,000 km of seismic data in areas of great strategic interest for TGS. While the brokerage agreement provides TGS with more data coverage in existing focus areas such as Northwest Europe, it also provides access to a broad range of new client contacts and exposure to seven new countries/areas where TGS is not active today.

As a result of this agreement, Fugro provides TGS with an exclusive right to licence and market the majority of Fugro's multi-client 2D library and receive commission fees on the sales of this data.  

This agreement is effective immediately.

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, permanent reservoir monitoring and data integration solutions.