TGS-NOPEC Geophysical Company (TGS) and oilfield services provider Schlumberger will cooperate on a new 2D seismic project offshore Egypt.
TGS said on Tuesday that the project would comprise acquisition of a 10,000 km 2D long-offset broadband multi-client seismic survey.
Advanced new acquisition and imaging techniques will provide better illumination of complex subsalt structures, the company added.
The project will integrate all legacy seismic and non-seismic data and will begin mid-December. According to TGS, the project will be completed in late first quarter 2018.
The company also added that the project was part of an agreement entered with South Valley Egyptian Petroleum Holding Company (Ganope) in which Schlumberger and TGS have a minimum 15-year period of exclusive multi-client rights in a 70,000 km2 open area offshore the Egyptian Red Sea.
Kristian Johansen, CEO of TGS, said: “The unexplored offshore Egyptian Red Sea area is made up of large, untested structures and well-established hydrocarbon systems, which offer exceptional growth opportunities for oil companies. The upcoming new multi-client 2D seismic acquisition program is the initial step in mitigating the complex salt imaging challenges of this unique opportunity.”
Maurice Nessim, president of WesternGeco, said: “Our comprehensive geological understanding, innovative seismic imaging techniques and full integration of non-seismic methods will define new exploration trends in these prospective basins. Our program will have a significant impact on the exploration potential for the entire Red Sea, 600,000 km2 across five countries. The collaborative approach will help customers to identify high potential play segments, assess exploration risks and accelerate hydrocarbon maturation cycles.”
Ganope is responsible for managing the hydrocarbon resource potential at South Valley. This project is supported by industry funding.