TGS Announces Exclusive Commercial Well Log Agreement with ANCAP

The Ministry of Industry, Energy and Mining (MIEM) of the Republic of Uruguay has been authorized by the President of the Republic to allow the Administracion Nacional de Combustibles, Alcoholes y Portland (ANCAP) to contract directly with TGS for the purpose of standardization and commercialization of a multi-client well data program for exploration wells in Uruguay.

This partnership with TGS supports Uruguay's long term exploration strategy that was launched in 2007 incorporating participation and risk-sharing by international E&P companies. A number of major international companies are now active in this region. Four exploration wells are expected to be drilled next year in the underexplored frontier Cuenca Norte onshore sector of the regional Chaco-Parana basin.

"We are excited to add Uruguay's well data to our ever expanding global well log library," noted John Adamick, Senior VP Geological Products. "The partnership between TGS and ANCAP will provide extensive access to technical data that will enhance exploration in Uruguay."

TGS' global well database includes over eight million logs and other borehole data from key hydrocarbon provinces worldwide. The data is available online via LOG-LINE Plus!®, a data repository with search, order and download capabilities.

TGS' global well database includes over eight million logs and other borehole data from key hydrocarbon provinces worldwide. The data is available online via LOG-LINE Plus!®, a data repository with search, order and download capabilities.