PGS, TGS, and SLB working to asses carbon storage potential in Malaysian basin

A consortium of Norwegian seismic business PGS and TGS and American oilfield services business SLB has actually begun a multi-client 3D seismic job to offer insights and examine the carbon storage possible throughout the Penyu Basin location in Malaysia.

In cooperation with Malaysia Petroleum Management (MPM) and PETRONAS, this seismic task intends to evaluate expedition chances in the Penyu Basin location and assess its capacity for carbon storage. Acquiring this brand-new seismic information will permit customers to examine expedition and carbon storage capacity for the upcoming Malaysia Bid Round better.

“The Penyu Basin is among Southeast Asia’s many interesting yet underexplored frontier expedition hotspots, with the capacity of discovering brand-new expedition plays and CCS chances,” stated Kristian JohansenCEO of TGS.

“We are delighted to be able to team up with MPM and our JV partners to spearhead expedition in this area through a state-of the-art Geostreamer multi-client 3D acquisition program. We continue to increase our footprint throughout Malaysia as it becomes an essential part of our multi-client seismic information library, and together with our partners, we anticipate providing premium seismic information throughout Malaysia and the Penyu Basin.”

The Ramform Sovereign vessel began operations in the acquisition location in March 2024, covering around 7,800 square kilometers. The acquisition is anticipated to complete by July 2024, with processing approximated to be finished by June 2025.

“We are really delighted on the start of the Penyu basin multi-client 3D seismic program together with our JV partners, extending the acquisition project for the Ramform Sovereign into the 2nd half of the year. This study marks a modification in how customers utilize freshly obtained multi-client seismic information,” stated Rune Olav PedersenPresident and CEO of PGS.

“In addition to the standard oil and gas expedition activities, this information will be utilized to assist in evaluation of Carbon Capture and Storage (CCS) capacity. By obtaining multi-client seismic information with our Ramform vessels and GeoStreamer innovation we will offer high quality local scale seismic information that will enhance local understanding of the subsurface.”

In January 2024, the exact same consortium protected pre-funding to broaden multi-client seismic information protection in the Sabah Basin offshore Malaysia. This work becomes part of a long-lasting agreement at first approved by Malaysia’s energy giant Petronas in 2016.