TGS and Schlumberger have secured a 2D seismic project in the Red Sea offshore Egypt.
The project will comprise acquisition of a 10,000 km 2D long-offset broadband multi-client seismic survey.
Acquisition will start mid-December and is expected to complete in late Q1 2018, the company informed.
This project is part of an agreement entered with South Valley Egyptian Petroleum Holding Company (GANOPE) in which Schlumberger and TGS have a minimum 15-year period of exclusive multi-client rights in a ~70,000 km(2) 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. The upcoming new multi-client 2D seismic acquisition program is the initial step in mitigating the complex salt imaging challenges of this unique opportunity,” said Kristian Johansen , CEO, TGS.
Maurice Nessim , president, WesternGeco, Schlumberger, added: “Our program will have significant impact on the exploration potential for the entire Red Sea (600,000 km(2) across 5 countries). Our collaborative approach will help customers to identify high potential play segments, assess exploration risks and accelerate hydrocarbon maturation cycles.”
The project is supported by industry funding.