Oslo, Norway (July 6, 2021) – TGS, a global provider of energy data and intelligence, in partnership with PGS, today announced Lewis Hills Multi-Client 3D Phase 2 of Lewis Hills off Eastern Canada. Phase 2 involves the acquisition of 947 square kilometers of additional 3D data, adding to the 2,811 square kilometers of the existing project to create a contiguous dataset.
The Lewis Hill 3D volume is positioned in the very promising Orphan Basin, with recent discoveries in the Flemish Pass and connecting further south to the Jeanne D’Arc productive basin. An extensive library of well logs is also available in the region, as well as advanced multi-client interpretation products that will improve the delineation of the game, trends and outlook.
David Hajovsky, Executive Vice President Western Hemisphere at TGS, commented: “The TGS and PGS joint venture continues to deliver the highest quality data ahead of scheduled licensing cycles, further strengthening our position on the market. east coast of Canada. Phase 2 of this project will provide additional contiguous 3D data coverage and improve geological understanding in the region, enabling clients to reduce the risk of their exploration activities and investments.
Neil Paddy, Vice President of North America at PGS, said: “The Lewis Hills Phase 2 survey completes the coverage between Flamand Pass and Orphan Basin. GeoStreamer imaging technology supports ongoing exploration drilling programs and this project will be critical in improving understanding of the petroleum systems involved. ”
The fully processed final batteries are expected to be delivered to industry by the third quarter of 2022.
This project is supported by industry funding.
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 specialist services such as advanced processing and analysis, as well as cloud-based data applications and solutions.
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 on assumptions as to future events which may not prove to be accurate. . These factors include TGS’s dependence on a cyclical industry and its major customers, TGS’s ability to continue to expand data licensing markets, and TGS’s ability to acquire and license data. process data products at costs commensurate with profitability, as well as volatile market conditions, which have been exacerbated by the COVID-19 pandemic and the sharp drop in oil prices. Actual results may differ materially from those expected or projected in forward-looking statements. TGS assumes no responsibility or obligation to update or change any forward-looking statements for any reason.
For more information visit TGS.com or contact:
Sven Børre Larsen
+47 90 94 36 73