Spectrum to Acquire Seismic Data Offshore Croatia

Spectrum signed a contract with the Ministry of the Economy in Croatia in July 2013 for the rights to acquire Multi-Client 2D seismic data offshore Croatia.

Spectrum will acquire the seismic data using Seabird and is currently mobilizing to acquire approximately 12,000 kilometres of long offset seismic data.

The survey covers both the northern and southern parts of the Croatian Adriatic Sea and the survey grid will connect with Spectrum’s reprocessed seismic data covering the Italian Adriatic. The results of the survey will also be used for scientific research purposes in collaboration with local scientific institutions.

Acquisition is expected to finish in Q4 2013 with processed products available by the end of Q1 2014. The Government of Croatia plans to hold a licensing round over the country’s offshore continental shelf in 2014.

Offshore Croatia is largely underexplored despite the presence of significant gas discoveries in the northern Adriatic. There are also proven oil discoveries in the southern Italian Adriatic and large scale structures have been identified, but untested.

The survey attracts high interest from Oil companies. Spectrum has started promotion of the survey with industry funding expected to close soon.