The Norwegian offshore seismic survey company PGS has secured pre-funding to expand MultiClient 3D coverage offshore Malaysia's Sabah.
The company's 102.2-meter-long, 40-meter-wide Ramform Sovereign vessel will start the 3,500-square-kilometer survey in January 2023 and finish it in March.
This is the sixth phase of MultiClient acquisition in the Sabah region, according to PGS.
Since 2016, when the first phase started, more than 47,000 square kilometers of high-quality 3D data has been collected.
According to PGS, the multi phased Sabah MultiClient project is one of the world's largest MultiClient acquisition projects.
Rune Olav Pedersen, President & CEO of PGS said: " 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."
“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 did not disclose the exact contract value, but it is worth noting that the company announces contract awards and MultiClient projects as stock exchange releases if the contract is worth $10 million or more, and MultiClient projects that last more than two months.