TGS to boost multiclient investment in 2017

Norwegian geophysical player TGS has increased its investment guidance for 2017 to approximately $260 million, which is a 20% increase from last year. 

The company informed on Tuesday it has secured prefunding commitments from clients to support additional multiclient investments in 2017.

The new investment guidance represents an increase of approximately 20% over 2016 multiclient investments, TGS said.

Kristian Johansen, CEO of TGS, said: “I am delighted to announce this increase to TGS’ 2017 investment guidance. Through our counter-cyclical strategy we are adding a record-high amount of 3D data to our multiclient library at attractive unit costs.”

The company’s increased guidance for new multiclient investments is approximately 260 million and additional multiclient investments are expected from sales of existing surveys with risk sharing arrangements. TGS added that pre-funding of new multiclient investments is expected to be approximately 40-45%.

Earlier on Tuesday, the joint venture between TGS and PGS informed it is ramping up its 3D seismic acquisition in Newfoundland Labrador with two additional projects.

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply