Tetragon Energy, operator of the SC-80 and SC-81 permits, has contracted DUG Technology to reprocess seismic data over the blocks offshore the Philippines.
Other partners are Sunda Energy, Philodrill and PXP Energy.
The workscope applies to four existing 3D seismic surveys purchased by Tetragon and some 2D surveys.
Tetragon and its partners have been tracking down and exporting the data tapes to Perth, where they have been copied onto modern media.
The partners have committed to spend $1.45 million on the reprocessing over the next year to improve data quality and increase confidence in identified prospects.
Tetragon says the four 3D surveys cover more than 4,000 sq km and were originally acquired between 2005 and 2013 at an estimated cost of about $20 million. The company plans to use modern supercomputing technology to improve imaging quality and better define exploration targets.
SC-80 and SC-81 contain two undeveloped gas discoveries with gross contingent resources estimated at 470 Bcf of gas and 5 MMbbl of condensate. Tetragon believes structures identified on the seismic surveys could indicate additional prospectivity similar to discoveries elsewhere in the Circum-Borneo region.
Tetragon is a Triangle Energy spin-out and began trading on the ASX earlier this month following an A$4 million (US$2.7 million) IPO.
