TGS and Wavefield have agreed to settle the dispute related to the merger process between the two companies.
Offshore staff
ASKER, Norway -- TGS and Wavefield have agreed to settle the dispute related to the merger process between the two companies. Under terms of the settlement, Wavefield will pay $12.5 million to TGS and TGS will charter a 2D vessel from Wavefield for an 18-month period beginning in April 2009.
TGS will also have the option to hire up to 24 months of un-contracted 3D vessel capacity from Wavefield over the next four years at favorable rates, securing Wavefield engagement for vessel capacity.
