OSLO, Norway (8 June 2023) – TGS, a global provider of energy data and intelligence, in a strategic collaboration with SLB, today announced the start of the Engagement 4 Ocean Bottom Node (OBN) multi-client acquisition in the U.S. Gulf of Mexico.
Acquisition of the 152 OCS block, sparse OBN survey is now underway, extending contiguous data coverage from prior phases into western Green Canyon. In an area known for increasingly challenging subsurface imaging, the application of full-waveform inversion (FWI) utilizing ultra-long offsets will provide a dataset that represents a step-change in the conceivable geological and geophysical interpretation. In support of both existing leases and future lease sale acreage, fast-track products will be made available in Q4 2023 with final processing completion scheduled for H2 2024.
Kristian Johansen, CEO at TGS, commented: “Alongside our project partners, we are excited to bring our sixth multi-client OBN project to fruition in the U.S. Gulf of Mexico. Ever-positive, proven imaging results from prior phases support continued application of these advanced seismic techniques, delivering significant exploration value to our clients.”
The project is supported by industry funding.
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 volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. 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, contact:
Sven Børre Larsen
Chief Financial Officer
investor@tgs.com