Norwegian energy data and intelligence company TGS and U.S.-headquartered energy giant Chevron have signed a three-year capacity agreement for marine streamer and ocean bottom node (OBN) acquisition services.
The parties plan to collaborate on seismic acquisition projects using TGS streamer and OBN crews for exploration and development projects.
The minimum firm commitment under the terms of the capacity agreement is 18 months, with the previously announced St Malo 4D OBN reservoir monitoring contract in the Gulf of America to be included in the agreement, and will kick start the collaboration immediately.
According to TGS, the capacity agreement will also drive collaboration on technology development in a range of geophysical areas, from survey design, acquisition technology, data collection, and data integration.
“We are thrilled to announce a major milestone in our commitment to evolving the global marine seismic market: the signing of the global Capacity Agreement (CA). Chevron, a true industry explorer and long-term client, is ideal for this strategic collaboration,” said Kristian Johansen , CEO of TGS.
“This agreement not only provides crucial utilization and visibility for both parties but also creates an opportunity for collaboration across our wider service portfolio. Our shared focus on new frontier areas makes us highly complementary, and we are excited to immediately begin supporting Chevron’s global exploration and reservoir management strategies.”