TGS completes 2021 Canada acquisition, promises license round insight

Source: press release, 29 September 2021

TGS-PGS 2021 Canada acquisition
TGS-PGS 2021 Canada acquisition (illustration: TGS-PGS)

TGS, a global provider of energy data and intelligence, on behalf of the PGS-TGS joint venture, has announced the completion of a successful seismic acquisition season offshore Newfoundland, Canada. The newly acquired data provides 3D data coverage to complement the existing 2D grid, enhancing geological and geophysical insights to explorers in the region.

Most recently, over 9,900 square kilometres were acquired for the Cape Anguille 3D project. A fast-track volume will be delivered before the end of the year, with the final volume to be delivered in Q1 2022. This survey is essential for assessing potential prospects identified from the comprehensive existing 2D library in the region. A lease round is scheduled in this area for November 2022.

Two additional multi-client programs were completed, including the Lewis Hills 3D Phase 2 survey, which provides a contiguous 3D tie from the Northern Orphan Basin to the Jeanne d’Arc Basin. This survey provides unmatched long offset GeoStreamer® data to provide additional insights of the highly prospective Newfoundland offshore region. Jeanne d’Arc 3D Phase 2 was also successfully acquired, providing previously unimaged geophysical and geological knowledge of this basin.

Kristian Johansen, CEO at TGS, comments, “We’re pleased to have completed another successful acquisition season offshore East Coast Canada – further strengthening our energy data library and position in the region. The data acquired will contribute to our client’s efforts to de-risk their investments in future bid rounds.”

Rune Olav Pedersen, President & CEO at PGS, comments, “We are very pleased the PGS-TGS joint venture has completed the 11th consecutive acquisition season offshore Canada. Two Ramform Titan-class vessels were active for the full season, with tailored GeoStreamer towing configurations. The new datasets expand our 3D MultiClient coverage for this region to 80,000 square kilometres and will help our clients to further de-risk prospects and plays offshore Canada.”