TGS, PGS, and SLB commence multi-client seismic project in Malaysia’s Penyu Basin

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Energy data and intelligence provider TGS, in collaboration with consortium partners PGS and SLB, has initiated a significant multi-client 3D seismic project in the Penyu Basin, offshore Peninsular Malaysia.

In partnership with PETRONAS and Malaysia Petroleum Management (MPM), the custodian of petroleum resources in Malaysia, TGS said on April 3 that the project aims to offer insights into exploration opportunities within a broader play fairway and to evaluate the carbon storage potential across the Penyu Basin area. 

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This seismic data acquisition endeavor is also designed to enable clients to conduct effective evaluations of both exploration and carbon storage potential for the forthcoming Malaysia Bid Round.

Kristian Johansen, Chief Executive Officer (CEO) of TGS, highlighted the significance of the Penyu Basin as one of Southeast Asia’s most promising yet underexplored frontier exploration hotspots. 

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“We are pleased to be able to collaborate with MPM and our JV partners to spearhead exploration in this region through a state-of-the-art Geostreamer multi-client 3D acquisition program. We continue to increase our footprint across Malaysia as it develops into a key part of our multi-client seismic data library, and together with our partners, we look forward to delivering high-quality seismic data across Malaysia and the Penyu Basin,” he continued. 

The Ramform Sovereign vessel was mobilized to the acquisition area in early March 2024, covering an area of approximately 7,800 square kilometers.

Acquisition completion is anticipated by July 2024, with processing completion projected for June 2025.

 

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