Geoscience data provider TGS said Sept. 14 that it agreed on principal terms and conditions to jointly acquire the majority of Dolphin UK Ltd.’s multiclient library with Petroleum Geo-Services ASA (PGS).
TGS and PGS plan to enter into a definitive agreement for the acquisition in the near future.
Kristian Johansen, CEO of TGS, said that Dolphin’s library is a good strategic fit for TGS and will add to its position in the Barents Sea, the North Sea, northwest Africa and Australia, including several surveys where it currently holds a joint interest with Dolphin.
Johansen also said that this transaction will be the second strategic library acquisition TGS has concluded in the current downcycle. Last year, most of Polarcus’ library was purchased, Johansen said.
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