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TGS update on claim for damages filed with arbitration panel


Published Sep 23, 2008
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TGS update on the acquisition of PDS

In preparation for the upcoming arbitration hearings with Wavefield, TGS has elected to narrow its claim for damages from $460 - $830 million as previously presented to the arbitration court to $488 - $510 million.

The claim is duly substantiated by detailed calculations presented to the Arbitration Panel. Consequently, TGS has lowered the upper limit for its claim to $550 million, down from the $700 million originally presented in the writ.

Arbitration hearings are scheduled to commence on November 3 to 13, 2008 and conclude by January 5 to 9, 2009.

Tags: TGS-NOPEC Geophysical Company, Wavefield InSeis ASA




   

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