OSLO, Norway (August 22, 2024) – The Government of Liberia, through the Liberia Petroleum Regulatory Authority (LPRA), has initiated a Direct Negotiation Licensing Round featuring 29 offshore blocks in the Liberia and Harper Basins. This licensing round, structured under the 2019 amendments to the Exploration & Production (E&P) law, underscores Liberia’s commitment to transparency and competitiveness, aiming to attract significant investment in its offshore exploration and production sector.
TGS is pleased to support this initiative by offering an extensive portfolio of multi-client subsurface data for the available blocks. This dataset includes over 24,000 kilometers of 2D seismic data and more than 26,000 square kilometers of 3D seismic data. This data set includes 5,100 square kilometers of newly reprocessed 3D seismic data and 12,000 kilometers of 2D seismic data, both enhanced using advanced Pre-Stack Depth Migration (PSDM) technology. This reprocessing method delivers enhanced imaging of key targets in the Cretaceous reservoirs, providing the latest insights into the region’s potential.
As a trusted partner to Libera, TGS acknowledges the significant offshore hydrocarbon opportunities in the region. The high-quality seismic data provided will be crucial for companies participating in this Direct Negotiation Round, allowing them to evaluate the potential within an under-explored yet proven petroleum system.
The Liberian offshore sector presents diverse geological plays, ranging from the syn-rift Lower Cretaceous to the deepwater Upper Cretaceous, with multiple source rock intervals throughout the stratigraphy. The comprehensive multi-client data offering, including 2D and 3D seismic, gravity, magnetic data, and well data—delivers a robust understanding of these plays, with numerous prospects and identifiable leads.
President Joseph Nyuma Bokai Sr. emphasized the country's commitment to creating a stable and favorable investment environment that adheres to the highest standards of ethics and governance. He invited top-tier companies to join Liberia in realizing its hydrocarbon potential, ensuring both prosperity and sustainability.
David Hajovsky, EVP of Multi-Client at TGS, commented: “TGS has a longstanding history of supporting Liberia's exploration initiatives with high-quality seismic data and insights. The availability of this extensive dataset, enhanced by the latest reprocessing technologies, offers a unique opportunity for the industry to further explore the potential within these under-explored basins. We are excited to continue our partnership with Liberia and contribute to the successful development of its offshore resources.”
About TGS
TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).
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