PGS updates North Sea CCS study, Trinidad and Tobago bid round support

Oct. 31, 2023
Results will soon be ready from a 2D feasibility study in Danish waters launched earlier this year, to support the ongoing screening and characterization of potential CCS sites.

Offshore staff

OSLO, Norway  PGS expects to issue results shortly from its 2D feasibility study to screen Denmark CCS in Danish waters, which started earlier this year.

The study, a cooperation with Geus and the industry, represents Phase 1 of a regional 2D rejuvenation project in the Danish North Sea, which will begin early in 2024.

Current work is focusing on offshore sites identified by Geus for maturation and includes seven seismic sections from three surveys analyzed using pre-processing, tomography and final VTI Kirchhoff PSDM (alternatively PSTM).

PGS is aiming to demonstrate the uplift achievable by reprocessing the data and to prepare the processing sequence for the larger project planned in 2024.

In the Caribbean, PGS is offering 2D multiclient data to support companies assessing the areas and evolving plays offered under the recently opened Trinidad and Tobago Shallow Water Competitive Bidding Round 2023. The deadline for submitting bids is April 2, 2024.

PGS’ NCMA 4-5 survey provides 2,448 km of high-resolution 2D seismic data over the Patao High and includes imaging of the Lower Cruse petroleum system.

According to the company the data enable regional correlation of key datapoints across the area to support understanding of the complex local geology and petroleum play types.

In its latest results review, PGS said only one of its 3D vessels was on contract during the third quarter, with about one month for acquisition of a carbon storage survey and the other two months for a 4D project under a framework agreement signed in 2021, at lower rates than in today’s market.

However, the company’s forward order book increased 28%, much of that due to pricing for the winter season at similar levels to those experienced during the summer. PGS now has about 60% of its 3D vessel capacity booked for the first half of 2024.