ASKER, NORWAY (2 May 2016) - TGS announces the expansion of its multi-client library offshore Eastern Canada with plans to acquire more than 36,000 km of 2D seismic data, in partnership with PGS, utilizing two vessels during the 2016 acquisition season.
The M/V Sanco Spirit and M/V Atlantic Explorer, utilizing the PGS GeoStreamer® technology, will acquire seismic and gravity data in the Labrador Sea, Newfoundland Orphan-Flemish Pass basins and Grand Banks areas. Data acquisition will commence during late May 2016. Pre-processing of the initial GeoStreamer® signal will be performed by PGS following which TGS will perform data processing with final data available to clients in Q3 2017.
This new data will complement the existing TGS-PGS joint venture library which already comprises over 112,000 km of modern 2D data and 9,172 km2 of 3D data in addition to 83,700 km of TGS vintage data. TGS also offers an expansive well log library and advanced multi-client interpretation products that will improve play, trend and prospect delineation in this region. "Offshore Newfoundland and Labrador has been an area of high interest from exploration companies in an otherwise challenging market as evidenced by the successful licensing round in November 2015. This will be our sixth consecutive season acquiring data in partnership with PGS in this highly prospective region, targeting expected Areas of Interest (AOIs) to be released under the scheduled land tenure system," commented Kristian Johansen, CEO for TGS.