TGS, the global geoscience data provider for oil and gas exploration and production companies, has partnered with Schlumberger for a new 2D seismic project offshore Egypt
The project is expected to integrate all legacy seismic and non-seismic data. According to Schlumberger, acquisition will commence mid-December and is set to complete in late Q1 2018.
This project is part of an agreement entered with South Valley Egyptian Petroleum Holding Company (GANOPE) in which Schlumberger and TGS have about 15 years of multiclient rights in a approximately 70,000 sq km open area offshore the Egyptian Red Sea. GANOPE is responsible for managing the hydrocarbon resource potential at South Valley.
“The unexplored offshore Egyptian Red Sea area is made up of large, untested structures and well-established hydrocarbon systems, which offer exceptional growth opportunities for oil companies. New imaging technologies are required to improve subsurface understanding and increase exploration success rates,” said Kristian Johansen, CEO of TGS.
“The upcoming new multiclient 2D seismic acquisition program is the initial step in mitigating the complex salt imaging challenges of this unique opportunity,” Johansen added.
Maurice Nessim, president for WesternGeco at Schlumberger, further explained that the joint collaboration with TGS is seen to have significant impact on the exploration potential for the entire Red Sea, covering an area of 600,000 sq km across five countries.
Schlumberger’s play-to-prospect integrated subsurface evaluation capabilities is expected to enable customers to develop new insight and accelerate their exploration decisions in this structurally complex area, Nessim said.
Source: Oil Review