Petroleum Geo-Services (PGS) completed acquisition of a 2D multi-client survey offshore Newfoundland using the industry-leading PGS GeoStreamer® acquisition technology. The 2013 program will acquire additional data of about 16,000 line-km of the Northeast Newfoundland Slope.
Offshore Newfoundland and Labrador has attracted increasing attention recently, as it is believed that the area has significant exploration and production potential with available acreage covering an area larger than the Gulf of Mexico. Statoil’s Mizzen discovery (200MMbbl) and the recent announcement of a light, high-quality oil discovery in the Flemish Pass basin at its Harpoon prospect support this theory and confirm potential north of the Jeanne d’Arc basin.
Final processed data from the 2013 acquisition season will be available during spring 2014, by which time 46,000 line-km of MC2D data will have been acquired and processed in Newfoundland and Labrador through the agreement.