TGS Wraps Russian Far East Offshore Data Work

Tuesday, April 21, 2020

Norwegian multi-client offshore seismic data firm TGS has completed the reprocessing of a 21,631-square kilometer regional 2D seismic survey offshore Sakhalin Island, in the Russian Sea of Okhotsk.

TGS, a provider of offshore data to exploration & production (E&P) companies, carried out the reprocessing with the support of TGS’ Russian partner, DMNG.

"Following the completion of the project, the first data has been sent out to pre-funding customers and is now available to all industry customers. The survey covers acreage that has shown excellent prospectivity, and exploration looks highly promising," TGS said.

This reprocessing project is the second phase of a mission to provide greater offshore coverage of the region, following TGS’ original 2D Phase 1 Clari-Fi broadband reprocessing of 18,970 square kilometers in 2019. Together, these products will provide much-needed high-quality data for explorers and interpreters, giving greater clarity of decision-making, TGS added.



Kristian Johansen, CEO at TGS, said: “Offshore Russia has long been an important region for TGS and the completion of the second phase of processing in the Sea of Okhotsk further strengthens our library of data here. There have been a number of significant discoveries of both oil and gas in recent years and our seismic data will be a core tool for explorers as they seek to further develop offshore hydrocarbon resources in the area in the years to come.”

TGS earlier this month said it expected a very challenging market in 2020, as E&P companies have announced significant cuts in capital expenditure due to low oil prices.

The seismic data firm said that data licensing and pre-commitments to new projects may be deferred until oil companies have more visibility of improvement in oil market conditions.

"Exploration spending can to a certain degree be considered discretionary, hence there is an expectation that the Company’s subsurface data products will be subject to significant spending cuts," TGS said earlier this month, adding that its asset-light business model allows it to reduce investments quickly to adapt to changes in demand.

Categories: Energy Drilling Geoscience Russia Activity Asia Seismic

Related Stories

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Velesto’s Jack-Up Rig Set for Drilling Job off Indonesia

Turkey Discovers New Black Sea Gas Reserve

Current News

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

Subsea7 Secures Work at Black Sea Field off Türkiye

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com