Malaysia has opened up its territorial waters in a bid to stimulate offshore E&P investment activity.
State oil company Petronas, has taken the decision to open an area of Malaysian offshore waters to the mult-client model for the first time.
A consortium comprising of PGS, TGS and Schlumberger WesternGeco, the industry’s three largest multi-client companies, have successfully won the tender for the rights to undertake a multi-client seismic program offshore Sabah.
Offshore Sabah sits in an active fold-and-thrust province that hosts a number of proven hydrocarbon accumulations. With exploration and drilling progressing into deeper frontier waters, there is potential for new plays in the carbonate and syn-rift section.
This basin will benefit from modern, high resolution broadband 3D seismic necessary to understand both the existing play concepts and new potential plays, said TGS.
TGS said: “The consortium is planning to apply a combination of the industry’s most advanced technology solutions including multi-sensor acquisition using PGS’ GeoStreamer® and WesternGeco IsoMetrix* marine isometric seismic technology, PGS’ Towed Streamer ElectroMagnetic technology and advanced broadband 2D acquisition and processing techniques.