OSLO, Norway (09 February 2023) - TGS, a global provider of energy data and intelligence, and CGG, a global technology and HPC leader have been jointly awarded the acquisition and imaging of a dense ocean bottom node (OBN) multi-client seismic survey in the Balder and Ringhorne areas of the Norwegian Continental Shelf (NCS).
The Heimdal Terrace OBN survey, located directly north of the Utsira OBN survey in the North Sea, will span an additional 500 square kilometer area under receivers (AUR) to increase the contiguous multi-client OBN coverage in the region to 3,778 square kilometers AUR. The survey area covers a mature part of the North Sea, including the Balder and Ringhorne fields, the Iving/Evra and Enniberg discoveries, and surrounding infrastructure-led exploration (ILX) areas for potential tiebacks to existing infrastructure.
TGS will be the operator throughout the acquisition phase. The company will apply its experience and technical expertise in managing many complex OBN acquisition programs in the North Sea and other regions to provide valuable insight into enhanced exploration opportunities across this part of the NCS.
CGG will apply its proprietary OBN processing and imaging technology, including time-lag full-waveform inversion, to create a high-quality 3D volume that will enhance the resolution and structural definition of the complex geology and reservoirs in the region.
Kristian Johansen, Chief Executive Officer at TGS, commented, "With this latest OBN survey, we continue our ongoing commitment to support our customers with the data they need to maximize the longevity of their production activities and discover new hydrocarbon reserves in mature areas. This acquisition project will further cement our leading position in delivering high-quality, multi-client OBN data to the industry."
Sophie Zurquiyah, CGG CEO, said, “CGG is pleased to partner with TGS to deliver this new OBN survey to meet strong industry demand for high-definition seismic data in this region. Clients continue to recognize the value of our advanced OBN imaging technology and expertise and the resulting data will support continued exploration and development in this mature, and very prolific part of NCS.”
The acquisition will commence in April 2023, with final processed deliverables to be completed by the end of Q2 2024.
The project is supported by industry funding.
Image caption: Map showing coverage of the Heimdall Terrace dense ocean bottom node (OBN) multi-client seismic survey in relation to licensing blocks in the region.
About TGS
TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.
Forward Looking Statement
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the severe drop in oil prices. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.
For more information, visit TGS.com or contact:
Sven Børre Larsen
Chief Financial Officer
investor@tgs.com