PGS and TGS commence joint seismic venture in Labrador SeaProjects and Operations // September 16, 2011
Petroleum Geo-Services (PGS) in cooperation with TGS-NOPEC Geophysical Company (TGS) have commenced a new 22,000km multi-client 2D seismic survey offshore Newfoundland and Labrador.
Under the cooperation agreement PGS is acquiring the initial phase of this large regional survey during the 2011 season utilizing the Canadian flagged vessel Sanco Spirit equipped with the latest GeoStreamer dual sensor, broadband technology.
The survey lies to the north of existing major oil discoveries including Hibernia, Hebron, Terra Nova and White Rose and covers areas currently nominated in the Newfoundland and Labrador Offshore Petroleum Board's call for bids (NL-11-03).
Data acquisition will continue through the third quarter of 2011 and the vessel will return in 2012 to complete the survey. The survey is supported by industry funding with initial data being available to clients during the fourth quarter of 2011.