TGS in exclusive commercial well log agreement with ANCAP in Uruguay

HOUSTON -- The Ministry of Industry, Energy and Mining of the Republic of Uruguay has been authorized by the President of the Republic to allow the Administración 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 under-explored 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," John Adamick, senior V.P., Geological Products, said. "The partnership between TGS and ANCAP will provide extensive access to technical data that will enhance exploration in Uruguay."