TGS forecasts lower seismic survey revenue

Offshore staff

ASKER, NorwayTGS anticipates multi-client seismic survey investments to total around $220 million this year.

That represents a reduction of more than 50% compared to 2015, and is in part due to the lower cost of acquiring seismic data as average vessel day rates will be substantially cheaper this year.

But oil companies have also become less willing to pre-fund new surveys, according to TGS CEO Robert Hobbs.

01/07/2016

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