The Sarawak award will enable the consortium to position itself in Malaysian seismic exploration
The seismic consortium comprising PGS, TGS and WesternGeco have been awarded a multi-year contract by PETRONAS through competitive bidding to acquire and process up to 105,000 square kilometers of multi-sensor MultiClient 3D data in the Sarawak Basin, offshore Malaysia.
This contract award follows an ongoing campaign by the consortium in the Sabah offshore region of Malaysia, awarded in 2016, in which over 50,000 square kilometers of high-quality 3D seismic data have been acquired and licensed to the oil and gas industry to support Malaysia license round and exploration activity.
The Sarawak award will enable the consortium to position itself in Malaysian seismic exploration and allow for a multi-phase program to promote exploration efforts in the prolific Sarawak East Natuna Basin (Deepwater North Luconia and West Luconia Province).
“We are very pleased to have received this good news from PETRONAS through Malaysia Petroleum Management,” said Nathan Oliver, PGS Executive Vice President Sales & Services. “Since this same consortium also acquiring MultiClient data offshore Sabah, we have demonstrated the benefit of the MultiClient business model to the Malaysian authorities and provided the oil and gas industry with high-quality seismic data in this prolific hydrocarbon basin. With this new award we are able to expand the MultiClient coverage into the Sarawak region to increase exploration and enhance production activities.”
Rune Eng, TGS Executive Vice President, International said: “With this exciting project award, the consortium will play its part in encouraging and enhancing future exploration in Malaysia, enabling E&P companies to participate in the acquisition of high-quality modern 3D seismic data on a cost-effective regional basis.”
“The consortium will continue to use the latest technologies to accelerate discoveries in the Sarawak offshore basins,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “Modern data will be used both to enhance existing production assets and develop new play concepts in areas where legacy data has failed to provide the insight needed to find new opportunities with a high degree of confidence.”
The consortium is planning the initial phases and is engaging with the oil and gas industry to secure prefunding ahead of planned acquisition, covering both open blocks and areas of existing farm-in opportunities.
Source: Company Press Release