Norwegian energy data and intelligence company TGS has struck a deal with the government of Somalia to extend its assignment to market and license offshore geophysical data for the African country’s acreage, said to be among the world’s most under-explored hydrocarbon regions.
While disclosing the extension of its agreement with Somalia’s Ministry of Petroleum and Mineral Resources (MOPMR), TGS highlights that this move gives it the continued rights to market and license geophysical data, covering offshore basins, reinforcing the firm’s long-term commitment to supporting the development of the country’s energy sector.
The company’s comprehensive regional data library is perceived to enable energy companies to evaluate the significant exploration potential across the country’s offshore areas. As a result, these datasets are deemed critical for companies assessing investment opportunities across numerous available offshore blocks.
David Hajovsky , Executive Vice President, Multi-Client at TGS, commented: “This extension further underscores our long-term commitment to the Federal Republic of Somalia and its offshore licensing program.
“With access to our exclusive, modern seismic and aeromagnetic library we are ready to support the Ministry of Petroleum & Mineral Resources as they open up one of the world’s last frontier hydrocarbon provinces.”
This agreement allows TGS to continue to offer, exclusively, over 46,000-line kilometers of modern 2D seismic data and more than 50,000 kilometers of aeromagnetic data, providing essential insight into the geological framework and prospectivity of the region through acquisition technology and advanced imaging solutions.
The extension follows the company’s recent multi-client 2D-cubed project offshore India’s Andaman region.