Two seismic players, TGS and PGS, have teamed up to acquire more than 36,000 km of 2D seismic data offshore Eastern Canada utilizing two vessels during the 2016 acquisition season.
According to TGS’ Oslo Stock Exchange filing on Monday, the M/V Sanco Spirit and M/V Atlantic Explorer, utilizing the PGS GeoStreamer technology, will acquire seismic and gravity data in the Labrador Sea, Newfoundland Orphan-Flemish Pass basins and Grand Banks areas.
The company said that data acquisition would start during late May 2016. Pre-processing of the initial GeoStreamer signal will be performed by PGS following which TGS will perform data processing with final data available to clients in 3Q 2017, TGS said.
Further, the company noted, this new data would complement the existing TGS-PGS joint venture library which already comprises over 112,000 km of modern 2D data and 9,172 km2 of 3D data in addition to 83,700 km of TGS vintage data.
Kristian Johansen , CEO for TGS. This project is supported by industry funding, commented: “Offshore Newfoundland and Labrador has been an area of high interest from exploration companies in an otherwise challenging market as evidenced by the successful licensing round in November 2015. This will be our sixth consecutive season acquiring data in partnership with PGS in this highly prospective region, targeting expected Areas of Interest (AOIs) to be released under the scheduled land tenure system.”