The Covid-19 pandemic and the current low-oil-price environment have pushed global exploration and production operators to cut costs, scrapping all but the most vital of their investment plans. The supply industry that will suffer the most as a result is seismic, as shown by a Rystad Energy analysis, with revenues estimated to fall this year by 51% in a $30 Brent scenario and by 77% if the Brent falls to $20, compared to levels seen in 2019.
TGS has begun a 3D seismic survey offshore The Gambia, under its Gambito 2020 programme.
Seismic provider Polarcus has noted another project cancellation, this time in West Africa.
Data shot by CGG in a 15,400 square km seismic survey offshore Mozambique, in the Zambezi Delta, is now ready for licensing.
Cameroon’s state-owned Société Nationale des Hydrocarbures du Cameroun (SNH) has launched a tender for a feasibility study for a 3D seismic shoot, onshore in the Douala/Kribi-Campo Basin.
Senegal is officially launching its licence round on January 31, with applications required to be in by July 31.
Confidence continues to return for offshore work, with offshore seismic companies reporting improved performance from contract work, while multi-client continues to lag.
Russia’s Tatneft has restarted its acquisition of seismic in Libya, the National Oil Corp. (NOC) has announced, picking up where it left off in 2014.
TGS has launched a new 3D seismic survey in the MSGBC Basin, covering 5,100 square km, in partnership with GeoPartners.
Australia-listed Armour Energy has suspended work on its 2D seismic shoot in Uganda as heavy rains have made work impossible.
Angola’s new regulator held its London roadshow on September 17, touting the new opportunities in its Namibe and Benguela basins.
The acquisition of Merlon Petroleum earlier this year has given Soco International a new focus, with new exploration planned in Egypt and neighbouring Israel. As such, the company is planning to change its name, to Pharos Energy.
TGS and Schlumberger’s WesternGeco are close to finishing 3D seismic reimaging on Egypt’s Red Sea, as a licence round comes to a close in the area. The two companies said the work would cover data from three seismic surveys, covering 3,600 square km, which were acquired between 1999 and 2008.
Despite the climate change crisis that threatens to engulf us all, the quest for new hydrocarbon resources goes on relentlessly. One of the key tools in that process is seismic survey – both 2D and 3D.
Carbon capture and storage remains firmly on the agenda as a way of mitigating at least some of the impacts of climate change.
I think it’s not unreasonable to say that for oil and gas the two innovations that have had the most impact are horizontal drilling and 3D seismic.
French geoscience firm CGG said today it had inked a contract to process seismic data for Shell in Brunei for six years.
TGS said it will acquire more than 11,500 km of 2D seismic data in the Republic of Guinea, Guinea Bissau and Senegal.
Oil and gas authorities in Russia and Norway will share seismic data from the Barents Sea under a new agreement.
A European monitoring agency has reported a 5.0 magnitude quake near North Korea’s north-eastern nuclear test site.
SeaBird Exploration said the company will acquire a long offset 2D multi-client survey in the Barents Sea.
TGS has seen its revenues increase in the second quarter of the year up 79% compared to earlier in 2016.
TGS and Schlumberger have begun the acquisition of a number of surveys in the US Gulf of Mexico.
Industry regulator the Oil and Gas Authority (OGA) has awarded contracts for a second UK Government-funded £20million seismic campaign aimed at boosting North Sea exploration.
Fugro has deployed multi-purpose offshore vessel the Fugro Gauss to join one of its other vessels in Mexico as it completes the world’s largest seep-hunting survey for TGS.