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ASKER, NORWAY (10 May 2017) - TGS and Petroleum Geo-Services ("PGS") announce the expansion of their jointly owned multi-client library offshore Eastern Canada. The new Cape Broyle 3D survey, to be acquired during summer 2017, will comprise approximately 3,500 km2 of 3D GeoStreamer[AL1] [AL2] ® data in the South Eastern Newfoundland region and builds upon the multi-client 3D campaigns acquired in the region over the last two years. Pre-processing of the initial GeoStreamer signal will be performed by PGS, following which TGS will perform data processing. Final data will be made available to clients in 2018, ahead of the 2019 licensing round under Newfoundland Labrador's Scheduled Land Tenure system.
In addition, in mid-May, TGS and PGS will commence a 2D seismic campaign in East Canada comprising approximately 22,000 km of 2D GeoStreamer data. This is the seventh consecutive year of 2D acquisition by the joint venture in the area. Following completion of these surveys the jointly-owned library will have more than 175,000 km of 2D GeoStreamer data and 14,750 km2 of 3D GeoStreamer data. An expansive well log library is also available in the region, along with advanced multi-client interpretation products that will improve play, trend and prospect delineation.
"This seventh consecutive season of data acquisition will expand our seismic coverage in Newfoundland Labrador where we have a strong track record of success. These projects will provide modern, high quality seismic data to E&P companies to support their drilling activities and prepare for upcoming licensing rounds," commented Kristian Johansen, CEO of TGS.
"We have experienced significant interest for our MultiClient GeoStreamer data in the Newfoundland Labrador area, and continue to position ourselves for upcoming lease sales in this increasingly attractive exploration region", says Jon Erik Reinhardsen, President & CEO of PGS.
These projects are supported by industry funding.