TGS conducts multi-client 2D seismic in W. Papua

Oslo Stock Exchange-listed TGS-NOPEC Geophysical Company (TGS) on Thursday confirmed its launch of a 2D seismic acquisition program offshore West Papua in East Indonesia.

The program adds 2,240 km of new 2D data designed to help evaluate the petroleum potential south of the Salawati Basin. The Salawati Basin is recognised as one of the largest oil basins in Eastern Indonesia with total cumulative oil production of more than 300 million barrels.

Data acquisition is now underway and is expected to conclude by the second quarter of 2010, the Company said.

The program has industry pre-funding and supports the Indonesia government?s overall objective to attract exploration and raise declining production levels.

TGS maintains the largest multi-client Indonesia data library in the industry. Upon the completion of the program, the TGS Indonesia library will exceed 100,000 kilometers of 2D seismic; 400,000 kilometers of multi-beam bathymetric data and 1,200 core samples covering over 1 million square kilometers of Indonesia?s deep-water basins.(alex)