TGS updates progress on Atlantic Margin seismic programs

TGS has issued updates on its recent and current offshore seismic acquisition programs.

Offshore staff

ASKER, NorwayTGS has issued updates on its recent and current offshore seismic acquisition programs.

Last October, the company completed the first season of data acquisition on the 40,000-sq km (15,444-sq mi)Atlantic Margin 3D AM17 project in the central-southern Norwegian Sea. Good progress means that only around 7,500 sq km (2,896 sq mi) of the committed area remains for the 2018 season.

The project is the single largest 3D survey carried out by any company in Northern Europe, the company claims, and covers largely open blocks in a relatively under-explored area with limited drilling to date.

Clients have received fasttrack data, and final results should be available next year.

In October, TGS completed the four-month 5,400-sq km (2,085-sq mi) Crean 3D survey in the Irish Atlantic Margin, designed to illuminate multi-level targets in an area of increasing exploration interest.

Last year’s programoffshore eastern Canada, completed in October, comprised 22,000 km (13,670 mi) of 2D data and four 3D projects of around 18,000 sq km (695 sq mi).

This was TGSs seventh consecutive season working in partnership with PGS in the region, and the partnership’s most active year to date.

Their combined library for the region will exceed 175,000 km (108,740 mi) of 2D data and 29,250 sq km (11,293 sq mi) of 3D data. In addition, TGS has 83,700 km (52,009 mi) of vintage 2D data.

The company’s 289,000-sq km (111,583-sq mi)Otos seep and geochemistry program over the US Gulf of Mexico is designed to mirror its Gigante seep study in the Mexican sector, acquired during 2016.

Extended sea seep coring operations finished in early 4Q, with final available soon afterwards.

Going forward, TGS notes that most of the oil companies that have commented on prospects for 2018 have signalled continued caution on the extent of exploration spending.

Demand for new seismic data will therefore likely remain weak this year, from a historical perspective, although there could be an upturn if the oil price remains at the current level or rises as the year progresses.

02/08/2018

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