Survey to Assess CCS and New Oil & Gas Opportunities Gets Underway Off Malaysia

Marine seismic data company TGS, together with joint venture consortium partners PGS and SLB, has kicked off a multi-client 3D seismic project in the Penyu Basin, offshore Peninsular Malaysia.

The project aims to provide insights on the exploration opportunities in a broader play fairway and to assess the carbon storage potential across Penyu Basin area.

It is being conducted in partnership with Malaysia Petroleum Management (MPM), which acts for and on behalf of state-owned energy giant Petronas in the overall management of Malaysia's petroleum resources.

The acquisition of the new seismic data will enable clients to effectively conduct evaluation on the exploration and carbon storage potential for the upcoming Malaysia Bid Round.

“The Penyu Basin is one of Southeast Asia’s most exciting yet underexplored frontier exploration hotspots, with the potential of uncovering new exploration plays and carbon capture and storage (CCS) opportunities.

“We are pleased to be able to collaborate with MPM and our joint venture partners to spearhead exploration in this region through a state-of the-art Geostreamer multi-client 3D acquisition program,” said Kristian Johansen, CEO of TGS.

"This survey marks a change in how clients use newly acquired multi-client seismic data. In addition to the traditional oil and gas exploration activities, this data will be used to facilitate assessment CCS potential.

“By acquiring multi-client seismic data with our Ramform vessels and GeoStreamer technology we will provide high quality regional scale seismic data that will improve regional understanding of the subsurface,” added Rune Olav Pedersen, President and CEO in PGS.

The Ramform Sovereign vessel was mobilized to the acquisition area in March 2024 and the area coverage is approximately 7,800 square kilometers. Acquisition completion is anticipated in July 2024, and processing completion is projected for June 2025, the partners said.