Norwegian geophysical player TGS has been cleared by the Mexican regulator Comisión Nacional de Hidrocarburos (CNH) to process its entire library of more than 30,000 wells in Mexico.
TGS said on Monday that the award granted the company the right to process and deliver high-quality, high-value well data products to companies exploring in offshore and onshore Mexico.
The first phase of processing is focused on all onshore and offshore exploration and appraisal wells, plus key development wells for bid rounds.
The workstation ready packages of subsurface data include Digitized Well Logs in LAS+ format, SmartRasters, and Validated Well Headers, with optional Checkshots and Directional Survey Plus, Checkshot Plus, Mud LAS and Lithology LAS.
All data products come with full coverage of the wellbore system from surface to total depth. TGS will perform quality control to ensure all attributes such as depth, direction, height, and elevation meet the accuracy guidelines.
TGS added that the packages provided coverage of all offshore and onshore basins including exploration and appraisal wells in Perdido Fold Belt and Salina basin with additional focus on high-interest areas such as Sureste and Veracruz, where recent discoveries received industry-wide attention.
The packages also focus on Tampico-Misantla, with dense coverage across Chicontepec, and deep data for Agua Nueva and Pimienta unconventionals extending through the Burgos Sabrina Basins. Processing has already begun and first delivery expected in February 2018.
Kristian Johansen, CEO for TGS, said: “With this combination of well data packages, comprising over 30,000 exploration, appraisal and critical wells from across Mexico, alongside our existing Gigante regional offshore 2D seismic survey and our recently reprocessed onshore Mexico 2D seismic dataset, TGS is optimally positioned to provide our clients with a comprehensive, high quality Mexican database.
“Our Mexican library will help E&P companies to evaluate petroleum potential from deep water to conventional and unconventional plays onshore, optimizing efforts in pursuing new lease rounds and investment opportunities in this region.”
It is worth noting that Mexico awarded 19 offshore blocks to 11 companies at its bidding round for deepwater acreage held last Wednesday.
The country will get $525 million from the winning offers submitted for acreage in Perdido Belt, Cordilleras Mexicanas, and Salina Basin. CNH estimates that total investment over the lifetime of these contracts could amount to 92.8 billion dollars.