(PGS, 19.Dec.2022) — PGS has secured pre-funding to expand MultiClient 3D coverage in the prospective Sabah platform province offshore Malaysia. The survey will cover approximately 3,500 square kilometers and Ramform Sovereign is scheduled to commence acquisition in January 2023 and the project is expected to complete in March.
This survey is the sixth phase of MultiClient acquisition in the prolific Sabah region. First phase commenced in 2016 and since then more than 47,000 square kilometers of high-quality 3D data is acquired. The multi phased Sabah MultiClient project is one of the world’s largest MultiClient acquisition projects.
“The Northwest Sabah basin is a proven petroleum system with producing fields such as Kikeh, Gumusut Kakap and Malikai with enormous potential, yet this is still ranked as one of the least explored basins in the world. Acquiring MultiClient data with our Ramform designed vessels and GeoStreamer technology provides high quality seismic data to support the energy companies in exploring this prolific region. By combining all the phases of the Sabah MultiClient program, we can offer a regional data set that improves understanding of the petroleum systems. In addition, the data sets allow for prospect scale AVO analysis and leads within the entire offshore Sabah basin,” says President & CEO in PGS, Rune Olav Pedersen, and continues:
“PETRONAS, through Malaysia Petroleum Management’s (MPM) continuous effort in enhancing data sets will unravel the full potential of the deep-water area in the Northwest Sabah basin. We have seen how higher quality data acquired in previous phases has enabled our clients to better evaluate deeper plays, resulting in increasing number of participants in the Malaysia Bid Round.”
PGS announce contract awards and MultiClient projects as stock exchange releases if the contract has a value of $10mn or more, and MultiClient projects with a duration of 2 months or more.
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