MCG bags two new 2D surveys in Indonesia
Saturday, November 29 2014 - 04:15 AM WIB
Norwegian firm MultiClient Geophysical (MCG) announced Friday it will acquire two new multi-client 2D seismic surveys in Indonesia, namely the 1,800 km Lombok survey in North East of Bali and the 1,000 km East Sulawesi survey.
The company said in a statement that the surveys were expected to commence during first half of December and will be acquired by the vessel Nordic Bahari.
?The surveys will take approximately 60 days to complete. Both surveys are strongly supported by industry funding, and MCG is actively working to secure prefunding for a third project within the same region,? it said.
MCG was established in October 2007 with a view of bringing together experts in geology, geophysics, interpretation, operations and marketing with an intimate knowledge of the inner functioning of the oil and gas industry.
The company said its intent has been to use this knowledge base to create or participate in projects which reduces exploration risk, to the oil and gas companies, through the provision of high quality seismic data.
To date, the company has concentrated on offshore projects in Europe and the Far East. The main business areas are nonexclusive 2D and 3D surveys, reprocessing and data brokerage. The company has no plans to own any seismic vessels, preferring to charter in capacity as required. This business principle allows us to concentrate on undertaking only those projects which meet or exceed our technical and commercial criteria and furthermore provides additional advantage during times of a weakening market for seismic vessels.
Editing by Reiner Simanjuntak