TGS announces prefunding on 2D multi-client seismic project offshore Sabah, Malaysia
Published by Emily Thomas,
Deputy Editor
Oilfield Technology,
TGS, in cooperation with JV consortium partners PGS and SLB, has announced that prefunding has been secured to expand multi-client seismic data coverage in the Sabah Basin offshore Malaysia.
The seventh phase of this multi-year project off the coast of Sabah encompasses over 5000 km of new 2D seismic data acquisition, over 2600 km of legacy seismic data processing, and 2800 km2 of 2D-cubed processing as part of a multi-year contract originally awarded by PETRONAS in 2016.
Kristian Johansen, CEO at TGS, commented: “High-quality 2D seismic data across Sabah will be instrumental in promoting future bid rounds. It also allows E&P companies to further assess exploration opportunities in an under-explored proven petroleum system surrounded by prolific hydrocarbon provinces.”
“The 2D Multi-Client project will provide high-quality seismic data across Sabah. I am very pleased that we have secured pre-funding and we mobilised for the project in November 2023,” says Rune Olav Pedersen, President & CEO of PGS.
The Eagle Explorer vessel mobilised in November 2023, with acquisition completion anticipated in February 2024. Fast-track results are anticipated to be available for evaluation during the 2024 Malaysia Bid Round.
This project is supported by industry funding.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/08012024/tgs-announces-prefunding-on-2d-multi-client-seismic-project-offshore-sabah-malaysia/
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