TGS to perform new 3D multi-client seismic survey in the Egyptian Red Sea

Source: press release, 29 October 2021

TGS CEO, Kristian Johansen
TGS CEO, Kristian Johansen (photo: TGS)

TGS, a global provider of energy data and intelligence, has announced a new 3D seismic survey in the Red Sea, Egypt, in partnership with Schlumberger.

The project will encompass approximately 6,800 square kilometres and will be acquired with long offsets and processed using a Pre-Stack Depth Migration (PSDM) workflow to enable sub salt imaging ahead of the anticipated license round. Final products are expected in Q4 2022.

The Red Sea is considered to hold significant hydrocarbon potential, and opportunities in Egypt are enhanced by a stable investment environment, established exploration infrastructure and regular, transparent and well managed licensing rounds.

Kristian Johansen, CEO at TGS, comments, “The Egyptian Red Sea area comprises a range of prospective hydrocarbon systems with large, untested structures offering excellent growth opportunities for oil companies. Using modern acquisition and imaging technologies, we continue to improve subsurface understanding and increase exploration potential in a country that continues to attract investment from E&P companies.”

TGS and Schlumberger have a long-term commitment with the Egypt Ministry of Petroleum and South Valley Egyptian Petroleum Holding Company (GANOPE) to promote the prospectivity of the Egyptian Red Sea. Through the acquisition and processing of seismic data. GANOPE is responsible for managing Egypt’s hydrocarbon resource potential under latitude line 28°.

The survey is supported by industry funding.