TGS NOPEC Geophysical Company ASA Buisness Update Amid The COVID-19 Situation Call Transcript
Hello, and welcome to the TGS Q1 Conference Call. (Operator Instructions) Just to remind you, this conference call is being recorded. Today, I am pleased to present Kristian Johansen. Please go ahead with your meeting.
Good morning, good afternoon and good evening, depending on where in the world you're listening in from. My name is Kristian Johansen. I'm the CEO of TGS. And like most employees in the company, I'm currently working remotely, and I'm doing this call from my home office in Houston. As we do every sixth business day after quarter close, we have today announced the preliminary net revenues for Q1. In addition, given the special circumstances caused by the COVID-19 virus, we have provided an extended announcement with additional information on how this situation is affecting us.
Based on preliminary reporting from our business units, we expect Q1 net revenues of approximately $152 million, whereof about $85 million is made up by prefunding. The COVID-19 crisis accelerated
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