TGS-NOPEC and Schlumberger Geco-Prakla Announce the Completion of the Largest 2-D Survey Ever Acquired

TGS-NOPEC Geophysical Company and Schlumberger Geco-Prakla announced today that the Phase 45 non-exclusive 2D program is complete. This joint venture between the two companies, consisting of over 99,000 km of 2D data in the deepwater areas of the US Gulf of Mexico, is believed to be the largest single 2D seismic program ever acquired. Oil companies subscribing to the project have used the resulting data extensively for deepwater exploration and lease evaluation over the past three years.

Acquisition of the Phase 45 project began on Oct. 20, 1995. After careful testing and refinement of the processing sequence, data delivery commenced in the spring of 1996. By the time data acquisition was completed on Oct. 19, 1998, three years later, five different seismic vessels and over 450 employees of TGS-NOPEC and Schlumberger Geco-Prakla had contributed to this massive project. The final shipment of processed data was delivered to participating oil companies on Dec. 31, 1998.

According to Hank Hamilton, chief executive officer of TGS-NOPEC, "Phase 45 continues to be a remarkable success story, playing a pivotal role in the rapid growth of deepwater exploration in the Gulf of Mexico. The scope, timing, and execution of the project have generated an overwhelmingly positive response from our customers."

Elijio Serrano, vice president for Schlumberger Geco-Prakla North and South America operations, commented, "The large resources of Schlumberger Geco-Prakla were essential for the timely acquisition and processing of such a large survey. We are pleased to have joined TGS-NOPEC in delivering to the industry the most successful 2-D surveys in the Gulf of Mexico."