TGS has started the Malvinas 3D programme offshore Argentina and is planning two seismic surveys offshore Brazil.
TGS has started the Malvinas 3D programme offshore Argentina and is planning two seismic surveys offshore Brazil.
Offshore Argentina, the BGP vessel Prospector will acquire approx. 5000 km2, which will bring the total coverage in the area to 18,000 km2. The survey is expected to be completed in Q1 2021.
Offshore Brazil, TGS will mobilize the COSL vessel HYSY720 to commence acquisition of the Espirito Santo 3D survey by the end of the year. This is a Dual Azimuth (DAZ) survey covering a 1400 km2 area in the Espirito Santo Basin. The vessel is currently in transit to Brazil and acquisition is expected to be completed by the end of Q1 2021.
TGS also plans to commence a 7000 km 2D survey in the Pelotas Basin during Q1 2021. The Pelotas 2D programme will have depth imaged products available in early Q3 2021, in time for the 17th Brazil licensing round. The new data set will complement the existing TGS 2D data coverage in the area and allow for better prospect mapping. The survey will be acquired in partnership with BGP, using its vessel Pioneer.
The delayed start of these three projects has led TGS to revise its annual investment guidance for 2020 down from $325 million to $300 million.
Kristian Johansen, CEO at TGS, said: ‘Latin America is one of our key focus areas and despite the challenging market conditions, our clients are continuing to support our projects in this region.’
