The company aims to develop the highest-resolution 3D seismic data available for this prospective area.
Historically, CGG says, imaging of the basin’s shelf break and numerous submarine channels has proven difficult, but by applying modern techniques, including de-multiple and high-frequency FWI, the project should attain significant reservoir imaging improvements, revealing potential new deep reservoir targets and raising the general understanding of the basin.
To date, the Gippsland basin has produced more than 4 Bbbl of liquid hydrocarbons and 7 tcf of gas, sourced from thick coal seams formed during the Paleocene to Eocene, and trapped in late Tertiary, inversion-formed, compressional structures.
The first major offshore discovery was over 50 years ago and CGG sees prospects for further discoveries and field developments.
Mark Richards, senior vice president, Eastern Hemisphere, Multi-Client & New Ventures, CGG, said: “With its well established infrastructure and under-developed resources, we believe this high-end reprocessing project has the potential to regenerate the basin and offer a solution to the projected shortfall in Australia’s East Coast gas supplies.”