PGS going to Norwegian and Malaysian waters

Norwegian seismic company PGS has secured industry pre-funding for another “large” multi-season MultiClient survey in the Norwegian Sea.

Source: PGS

The first phase of the survey will be acquired this year by the seismic vessel Ramform Hyperion. Acquisition is expected to start in late June and have a duration of approximately 75 days.

The second phase is set to be completed in the 2024 season with a further approximately 70 days of acquisition.

“I am very pleased we have secured strong pre-funding for another large MultiClient survey in the Norwegian Sea which is accretive to our existing coverage. We are currently acquiring phase 2 of our NWS GeoStreamer X MultiClient survey in the same basin, scheduled to complete next year,” said PGS President and CEO Rune Olav Pedersen.

“Adding this second multi-season MultiClient survey, we now have booked one vessel for the full 2024 summer season. The high MultiClient activity is strong evidence of renewed exploration interest on the Norwegian continental shelf.” 

In addition, PGS with joint venture consortium partners TGS and SLB recently secured pre-funding to expand MultiClient 3D coverage in the Sarawak Basin offshore Malaysia.

The survey will cover approximately 6,800 square kilometers and the Ramform Sovereign is scheduled to commence acquisition in June and complete in August, with final deliverables available in Q2 2024.

It is the second phase of a multi-year contract awarded initially by Petronas in August 2020 to acquire and process up to 105,000 square kilometers of MultiClient 3D data over a five-year period in the basin.

The first phase of the Sarawak program was acquired in 2021 and covered 8,400 square kilometers.

Kristian Johansen, TGS CEO, stated: “Sarawak is an area that has recently experienced multiple oil and gas discoveries, and we expect this to be a very important basin for future exploration. We continue to work closely and collaboratively with our customers, partners and other stakeholders in Malaysia to drive exploration success.”

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