OSLO, Norway — Bangladesh’s government has approved a new Offshore Model Production Sharing Contract 2023 (PSC).
Will Ashby, executive vice president of Eastern Hemisphere at TGS, said, “With limited data available in the region, the new seismic data in combination with the PSC are key components that will enable companies to evaluate open acreage and support the launch of a new offshore license round for the country.”
The Bengal Fan—one of the world’s largest deepwater fans with evidence of working petroleum systems—is thought to be one of the most extensive remaining unexplored frontier areas, the company added.
Elsewhere, TGS has secured a three-month proprietary ocean-bottom node (OBN) data acquisition contract in the Gulf of Mexico (GoM) for a repeat customer. Acquisition is due to be completed in first-quarter 2024.
Other ongoing multiclient projects, according to the company’s latest results statement, include the Sleipner OBN survey in the Norwegian North Sea, Engagement Phase 4 OBN in the US GoM, Awele 3D offshore Nigeria and Santos Sul 3D offshore Brazil.
TGS has had two ZXPLR crews active in Guyana and the US GoM on OBN duty. Its Z700 crew has been working in the North Sea, and the MASS crew started a new contract in the US after completing a project in Norway.