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ASKER, NORWAY (16 October 2018) - TGS and Spectrum have joined forces and expanded the Santos 3D program to 15,000 square kilometers over the prospective southern Santos Basin offshore Brazil. TGS and Spectrum will be equal partners with data processing and imaging to be performed by TGS. The survey covers an area south of the high-profile discoveries of the Santos Basin and the recent sought-after blocks offered in Rounds 2,3,4,5 and 15.
Rune Eng, CEO Spectrum, comments, "Spectrum is excited to cooperate with TGS in this survey over such a highly prospective area. The two companies will be working together to unlock the southern Santos Basin for exploration. The Santos Basin is one of the hottest exploration basins in the world with a high potential for further discoveries in deep water."
Kristian Johansen, CEO TGS, comments, "TGS is extremely pleased about this collaboration with Spectrum. This will be our second major investment in Brazil this year, expanding TGS' commitment to this significant exploration play."