TGS-NOPEC commences acquisition on 2D seismic in Indonesia-Vietnam area
Monday, March 29 2004 - 08:52 AM WIB
Norway-based TGS-NOPEC Geophysical Company said Monday that it had commenced acquisition on "Heimdall", a new 9,300 km non-exclusive 2D seismic survey in waters of both Indonesian and Vietnamese jurisdiction of the South China Sea.
TGS-NOPEC said in a statement the acquisition of modern, high quality, regional data commenced on March 27, 2004 over parts of the West Natuna, Nam Con Song and East Natuna Basins.
TGS-NOPEC also said that the area would be offered in separate bid rounds to be hosted by the Indonesian Government and Vietnamese Government. The bid rounds will be held during the second half of 2005.
In June 2003, after 25 years of negotiation, Vietnam and Indonesia signed an agreement over their maritime boundary in this potentially oil-rich area of the South China Sea.
TGS-NOPEC is listed on the Oslo Stock Exchange. (robert)