TGS Announces Commencement of Sarawak Phase 3 in Malaysia

Source Company Press Release
Company TGS ASA, PGS Overseas AS, SLB
Tags Country: Malaysia, Upstream: Drilling Activity, Upstream News
Date August 30, 2023

TGS, the leading global energy data and intelligence provider, and JV consortium partners PGS and SLB announce that pre-funding has been secured to expand the multi-client 3D coverage in the Sarawak Basin, offshore Malaysia.

The survey is the third phase of a multi-year contract awarded by PETRONAS in August 2020 to acquire and process up to 105,000 sq kms of multi-client 3D seismic data over a five-year period in the Sarawak Basin. The first phase of the Sarawak multi-client 3D project encompassed 8,400 sq kms, succeeded by an additional 6,800 sq kms during Phase 2.

Kristian Johansen, TGS CEO, commented: 'Sarawak basins are one of Southeast Asia’s most exciting exploration hotspots, with numerous oil and gas discoveries announced in recent months. TGS is pleased to announce Phase 3 of the Sarawak multi-client program, which will support the growing exploration interest of energy companies in this region. Malaysia continues to form a key part of our multi-client data library, and together with our partners, we look forward to delivering high-quality seismic data across the Sarawak basins.'

'Exploration interest in the Sarawak basin is strong and I am very pleased that we have secured pre-funding for phase three, with mobilization commencing back-to-back with completion of phase two. The Sarawak basin comprises of a proven petroleum system with many producing fields. By acquiring multi-client data with our Ramform vessels and GeoStreamer technology, PGS and partners will provide high-quality regional scale seismic data that will improve regional understanding of the petroleum systems,' says President & CEO in PGS, Rune Olav Pedersen.

The Ramform Sovereign vessel is expected to mobilize in late August, covering approx. 5,300 sq kms for Phase 3, with acquisition completion anticipated in late November 2023.

PETRONAS, through Malaysia Petroleum Management (MPM), is actively enhancing its data sets that will introduce new plays to be explored, especially in imaging the pre-Middle Miocene Unconformity (MMU) play in the deep-water area of Sarawak Basin. This enhancement will enable clients to effectively conduct an assessment of the potential opportunities for exploration and participate in the Malaysia Bid Round.

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