Expansion of TGS offshore Argentina 3D project

Source: press release, 20 November 2019

3D project offshore Argentina
3D project offshore Argentina (illustration: TGS)

TGS has announced an expansion of the Malvinas 3D multi-client seismic program offshore Argentina that was reported in October 2019.

The Malvinas 3D seismic survey will now cover approximately 17,800 square kilometres of the highly prospective Malvinas Basin.  This expansion represents a 10,500 square kilometre increase from the previously announced 7,300 square kilometres. To accommodate the expansion, the survey will employ two Shearwater vessels, with operations set to commence in Q4 2019 and run until Q2 2020.

Initial products will be available in early 2021, with final products slated for H2 2021. The data will be processed by TGS utilising its high-quality imaging technologies to provide clients with high resolution imaging to greatly assist exploration efforts in the prolific southern Argentine shelf play.

Kristian Johansen, CEO at TGS, comments, “We are delighted to announce the expansion of the Malvinas 3D project. The increased commitment from clients to fund new projects offshore Argentina demonstrates the value that E&Ps place in seismic as a vital tool to make informed drilling decisions. The addition of the Malvinas 3D survey, combined with our well data, 2D seismic and interpretation products in the region, ideally positions TGS as a leader in exposing this frontier area for additional exploration and bolsters our growth strategy in the Southern Atlantic. We look forward to further expanding our data library in the region and partnering with E&Ps in their future developments.”

The project is supported by industry funding. TGS operates as NOPEC Geophysical in Argentina.