PGS acquiring exploration data over emerging offshore Egypt basin

Aug. 18, 2023
PGS’ Ramform Titan vessel is acquiring 3D Geostreamer broadband data over a deepwater area in the Mediterranean Sea offshore the central north coast of Egypt.

Offshore staff

OSLO, Norway  PGS’ Ramform Titan vessel is acquiring 3D Geostreamer broadband data over a deepwater area in the Mediterranean Sea offshore the central north coast of Egypt.

The EGY23 Merneith survey is designed to bridge the gap between the Nile Delta and the emerging Herodotus Basin, thought to hold potentially large untapped resources.

According to the company, the variable-thickness salt (evaporite) layer may act as a seal across much of the area. Main exploration targets will likely be presalt Oligo-Miocene structures hosting clastic reservoirs.

For the survey, PGS has the support of EGAS (the Egyptian Natural Gas Holding Co.). It expects to issue first results early next year and final PSDM imaging results in May 2024.

PGS also entered a one-year strategic collaboration with company inApril for the hybrid towed streamer and ocean-bottom node sector, with the partners targeting opportunities including exploration, reservoir monitoring and carbon capture and storage, according to inApril CEO Anne Camerer.

08.18.2023

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Courtesy Finder Energy's QUARTERLY REPORT, 31 January 2024