TGS announces prefunding on 2D multi-client seismic project offshore Sabah, Malaysia


 



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Oilfield Technology,

TGS, in cooperation with JV consortium partners PGS and SLB, has announced that prefunding has been secured to expand multi-client seismic data coverage in the Sabah Basin offshore Malaysia.

The seventh phase of this multi-year project off the coast of Sabah encompasses over 5000 km of new 2D seismic data acquisition, over 2600 km of legacy seismic data processing, and 2800 km2 of 2D-cubed processing as part of a multi-year contract originally awarded by PETRONAS in 2016.

Kristian Johansen, CEO at TGS, commented: “High-quality 2D seismic data across Sabah will be instrumental in promoting future bid rounds. It also allows E&P companies to further assess exploration opportunities in an under-explored proven petroleum system surrounded by prolific hydrocarbon provinces.”

“The 2D Multi-Client project will provide high-quality seismic data across Sabah. I am very pleased that we have secured pre-funding and we mobilised for the project in November 2023,” says Rune Olav Pedersen, President & CEO of PGS.

The Eagle Explorer vessel mobilised in November 2023, with acquisition completion anticipated in February 2024. Fast-track results are anticipated to be available for evaluation during the 2024 Malaysia Bid Round.

This project is supported by industry funding.

 

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