TGS Announces Commencement of Penyu Basin Multi-Client 3D Seismic Offshore Peninsular Malaysia
03 Abril 2024 - 11:00PM
TGS Announces Commencement of Penyu Basin Multi-Client 3D Seismic
Offshore Peninsular Malaysia
OSLO, Norway (3 April
2024) —TGS, the leading global energy data and intelligence
provider, alongside JV consortium partners PGS and SLB,
announces the commencement of a multi-client 3D seismic
project in the Penyu Basin, offshore Peninsular Malaysia.
In partnership with Malaysia Petroleum
Management (MPM), PETRONAS, the custodian of petroleum resources in
Malaysia, this project aims to provide insights on the exploration
opportunities in a broader play fairway and to assess the carbon
storage potential across Penyu Basin area. The acquisition of this
new seismic data will enable clients to effectively conduct
evaluation on the exploration and carbon storage potential for the
upcoming Malaysia Bid Round.
Kristian Johansen, TGS CEO, commented: “The
Penyu Basin is one of Southeast Asia’s most exciting yet
underexplored frontier exploration hotspots, with the potential of
uncovering new exploration plays and CCS opportunities. We are
pleased to be able to collaborate with MPM and our JV partners to
spearhead exploration in this region through a state-of the-art
Geostreamer multi-client 3D acquisition program. We continue to
increase our footprint across Malaysia as it develops into a key
part of our multi-client seismic data library, and together with
our partners, we look forward to delivering high-quality seismic
data across Malaysia and the Penyu Basin.”
Rune Olav Pedersen, President and CEO in PGS
says: " We are very pleased on the commencement of the Penyu basin
multi-client 3D seismic program together with our JV partners,
extending the acquisition campaign for the Ramform Sovereign into
the second half of the year. This survey marks a change in how
clients use newly acquired multi-client seismic data. In addition
to the traditional oil and gas exploration activities, this data
will be used to facilitate assessment of Carbon Capture and Storage
(CCS) potential. By acquiring multi-client seismic data with our
Ramform vessels and GeoStreamer technology we will provide high
quality regional scale seismic data that will improve regional
understanding of the subsurface.”
The Ramform Sovereign vessel was mobilized to
the acquisition area in March 2024 and the area coverage is
approximately 7,800 square kilometers. Acquisition completion is
anticipated in July 2024, and processing completion is projected
for June 2025.
About TGSTGS provides
scientific data and intelligence to companies active in the energy
sector. In addition to a global, extensive and diverse energy data
library, TGS offers specialized services such as advanced
processing and analytics alongside cloud-based data applications
and solutions. For more information about our products and services
and who we are, visit TGS.com.
For more information, visit TGS.com or
contact:
Sven Børre LarsenCFOTel: +47 90
94 36 73E-mail: investor@tgs.com
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