TGS has announced that it has, together with Petroleum Geo-Services ASA (PGS), agreed principal terms and conditions for jointly acquiring the majority of the multi-client library of Dolphin UK Ltd. The parties expect to enter into a definitive agreement for the acquisition in the near future.
"The Dolphin library is a good strategic fit for TGS and will add to our already strong position in areas such as the Barents Sea, the North Sea, NW Africa and Australia, including several surveys where TGS currently holds a joint interest with Dolphin. With this acquisition we are continuing to execute on our active consolidation strategy. This transaction will be the second strategic library acquisition TGS has concluded in this down cycle, following the purchase of most of the Polarcus library last year," stated Kristian Johansen, CEO of TGS. "We are excited to enter into this transaction together with PGS, and it positions us well for further cooperation in these prospective areas," he added.
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, please visit: http://www.tgs.com
Adapted from a press release by Louise Mulhall
Read the article online at: https://www.oilfieldtechnology.com/exploration/14092016/tgs-and-pgs-jointly-acquire-dolphins-multi-client-library/