Exploration news

The ultramodern data was acquired over blocks Z5-C and Z5-D and surrounding open acreage as part of a multi-client programme agreed between CGG and Mozambique’s Instituto Nacional de Petroleo (INP).

The survey will provide modern 3D data over held and vacant acreage in the frontier Papuan Basin.

80 trillion ft3 of shallow gas resources has been discovered within an area of 5000 km2 between Abu Dhabi and Dubai.

The programme was unveiled at DigEx 2020 in Oslo, Norway, where the company discussed how it is making use of digital technologies, including the latest cloud infrastructure, to reduce the time from “idea to discovery”.

Over 80% of the company's 2020 Exploration & Production capital and exploratory budget will be allocated to high return investments in Guyana and the Bakken.

The licensing round comprises twelve blocks on offer in the Mauritania, Senegal, Gambia, Guinea-Bissau and Guinea Conakry (MSGBC) Basin, offshore Senegal.

The projects are valued at approximately US$42 million and are scheduled to occur primarily during 2Q20.

The agreement with Colombia’s National Hydrocarbon Agency, the ANH, grants rights to reprocess existing data and acquire new 2D and 3D multi-client programmes offshore Colombia’s Caribbean coast.

The company is prioritising securing a partner to drill its flagship prospect in Ireland, the Inishkea prospect which lies on Frontier Exploration Licence 4/19 in the Slyne Basin.

2020 will be key as sector moves towards low-carbon future.