TGS Increases Investment Offshore Eastern Canada
TGS announces the expansion of multi-client 2D surveys offshore Eastern Canada with plans to acquire more than 30,000 km of seismic data, in partnership with PGS, utilizing two vessels during the 2014 acquisition season.
The M/V Sanco Spirit, utilizing the PGS GeoStreamer® technology, will acquire seismic and gravity data in the Labrador Sea and Northeast Newfoundland-Flemish Pass areas. Data acquisition will commence during June 2014. This project will provide valuable data covering expected Areas of Interest (AOIs) to be released by Canada’s Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) as part of the new land tenure system announced to the industry on 19 December 2013. This new data will also complement TGS’ existing 47,600 km of 2D data acquired during the 2011, 2012 and 2013 acquisition seasons in this region. Data processing will be performed by TGS and final data will be available to clients Q3 2015.
The M/V Atlantic Explorer, also utilizing the PGS GeoStreamer® technology, will acquire seismic and gravity data in the Tail of the Bank area of Southeast Grand Banks. Data acquisition will commence during July 2014. The Southeast Grand Banks 2D covers an initial 15,000 km to infill the existing TGS NF 101 Tail of the Bank 2D survey acquired in 2000, where it is expected the C-NLOPB will announce future AOIs. Data processing will be performed by TGS and final data will be available to clients Q3 2015.
TGS complements these new investments with data from its expansive well log library and advanced multi-client interpretation products that will improve play, trend and prospect delineation.
“We believe offshore Eastern Canada is one of the world’s newest energy frontiers and the region holds significant untapped potential. This season’s commitment to two vessels will accelerate our expansion of regional coverage in support of Newfoundland-Labrador’s provincial energy strategy, including more detailed coverage in the expected future AOIs,” commented Rod Starr, Senior VP Western Hemisphere for TGS.
Both of these projects have industry support.