Sabah Basin Multi-Client Seismic Project Secures Prefunding

Marine seismic company TGS, in cooperation with JV consortium partners PGS and SLB, has announced that prefunding has been secured to expand multi-client seismic data coverage in the Sabah Basin offshore Malaysia.

The seventh phase of this multi-year project off the coast of Sabah encompasses over 5,000 kilometers of new 2D seismic data acquisition, over 2,600 kilometers of legacy seismic data processing, and 2,800 square kilometers of 2D-cubed processing as part of a multi-year contract originally awarded by PETRONAS in 2016.

“High-quality 2D seismic data across Sabah will be instrumental in promoting future bid rounds. It also allows E&P companies to further assess exploration opportunities in an under-explored proven petroleum system surrounded by prolific hydrocarbon provinces,” Kristian Johansen, CEO at TGS, said.

“The 2D multi-client project will provide high-quality seismic data across Sabah. I am very pleased that we have secured pre-funding and we mobilized for the project in November 2023,” added Rune Olav Pedersen, President & CEO of PGS.

This project is supported by industry funding.

The Eagle Explorer vessel mobilized in November 2023, with acquisition completion anticipated in February 2024. Fast-track results are anticipated to be available for evaluation during the 2024 Malaysia Bid Round, the JV partners said.