Norwegian seismic data firm TGS, has announced a new 3D seismic survey in the Red Sea, offshore Egypt, in partnership with the oilfield services giant Schlumberger.
This is the second phase of the new acquisition for the two companies in the region and will encompass a minimum of 5,000 square kilometers.
The survey is supported by industry funding.
"Data will be acquired with long offsets and processed using a Pre-Stack Depth Migration (PSDM) workflow to enable subsalt imaging. The acquisition is expected to start in April 2022, with final products anticipated in mid-2023 to ensure availability ahead of future license rounds in the region," TGS said.
"Egypt's attractive, stable investment climate, enhanced by established exploration infrastructure and complemented by regular, transparent, and well- managed licensing rounds, has helped bolster interest in the Red Sea. The region is considered to hold significant hydrocarbon potential characterized by a wide range of prospective hydrocarbon systems comprising large, untested structures," TGS said.
Kristian Johansen, CEO at TGS, said: "TGS has a strong track record of success in enhancing exploration efforts in the region. We are committed to our goal of improving subsurface understanding for our clients in the Egyptian Red Sea. Through modern acquisition and imaging technologies, we aim to further increase exploration potential in a country that continues to attract investment from E&P companies."