Following pre-funding, PGS, TGS and SLB to expand seismic data coverage off Malaysia
The consortium of TGS, PGS and SLB has secured pre-funding to expand multi-client seismic data coverage in the Sabah Basin offshore Malaysia.
The seventh phase of this multi-year project encompasses over 5,000 kilometers of new 2D seismic data acquisition, over 2,600 kilometers of legacy seismic data processing, and 2,800 square kilometers of 2D-cubed processing as part of a multi-year contract originally awarded by Malaysia’s energy giant Petronas in 2016.
The Eagle Explorer vessel mobilized in November 2023, with acquisition completion anticipated in February 2024. Fast-track results are anticipated to be available for evaluation during the 2024 Malaysia Bid Round.
Kristian Johansen, CEO at TGS, said: “High-quality 2D seismic data across Sabah will be instrumental in promoting future bid rounds. It also allows E&P companies to further assess exploration opportunities in an under-explored proven petroleum system surrounded by prolific hydrocarbon provinces.”
The project is supported by industry funding.
To remind, in the summer of 2023, PGS, TGS and SLB secured pre-funding to expand the multi-client 3D coverage in the Sarawak Basin offshore Malaysia, supporting the rising interest in oil and gas exploration within the region.
At the end of last year, Petronas, together with its petroleum agreement contractors, reported that it had contributed over 1 billion barrels of oil equivalent (boe) of new resources in Malaysia in 2023, having recorded 19 exploration discoveries and two exploration-appraisal successes.