TGS launches first seismic survey of 2017. Awards 3D work to Polarcus and Shearwater
- Business & Finance
TGS, a marine seismic data acquisition specialist, has announced its first multi-client acquisition project in 2017, the AM17 Atlantic Margin 3D in the Norwegian Sea.
TGS said on Thursday that the AM17 40,000 square kilometer project in the central-southern Norwegian Sea is the single largest 3D survey carried out by any company in Northern Europe, which covers largely open blocks in a relatively under-explored area with limited drilling to date.
The company added that the data acquisition would provide a new understanding of the geological development of the area and open up a variety of play models from rotated Jurassic and Cretaceous fault blocks, to stratigraphic and structural traps in Paleocene and Cretaceous turbidite and fan deposits.
The acquisition is expected to begin in May 2017 and will continue over multiple seasons. Data processing will be performed by TGS using its Clari-FiTM broadband technology and denoise and demultiple techniques.
Kristian Johansen, CEO for TGS, said: “The AM17 Atlantic Margin 3D is located in an under-explored but high potential area which will be strategically important as E&P companies look for new growth opportunities offshore Norway.
“The project will bring much needed modern, high quality 3D seismic to this data poor frontier region. As the first new investment announced in 2017, AM17 will make an important contribution to TGS’ pre-funding backlog.”
Polarcus & Shearwater deals
Also on Thursday, TGS awarded Polarcus a contract for the acquisition of 30,000 square kilometers of 3D multi-client data in Europe.
Polarcus said that approximately 20,000 square kilometers will be acquired in 2017 utilizing two of its vessels and its XArray multiple-source acquisition technology. The project will begin in early second quarter of 2017. The remaining 10,000 square kilometers will be acquired next year utilizing up to two vessels, beginning in early second quarter of 2018.
Rod Starr, Polarcus CEO, said: “A project award of this magnitude will drive vessel utilization and provide significantly improved visibility for Polarcus.”
In addition, new marine geophysical player Shearwater GeoServices, jointly owned by GC Rieber Shipping and Rasmussengruppen, also received a contract award from TGS for one firm and one optional 3D survey in Norway.
The surveys are scheduled to begin between March and May 2017 and will cover a total of 15,000 square kilometers. The surveys will be performed by two Shearwater’s 3D vessels. The scope of the firmly awarded survey equals to approximately six vessel months and requires a wide tow spread for which the Shearwater vessels are designed. The optional scope equals to four additional vessel months.
Irene Waage Basili, CEO of Shearwater GeoServices, said: “We are very happy to be working with TGS which are a key client and a significant purchaser of geophysical services. The contracts represent continuous utilization for two of our vessels for the spring and summer season supporting our strategy to build solid backlog for our fleet in a highly competitive marketplace.”
Offshore Energy Today Staff