TGS completes reprocessing of new 2D survey in Russian Sea of Okhotsk
First data from the 21 631 km2 regional 2D seismic survey offshore Sakhalin Island has been sent out to pre-funding customers and is now available to all industry customers.
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First data from the 21 631 km2 regional 2D seismic survey offshore Sakhalin Island has been sent out to pre-funding customers and is now available to all industry customers.
New licensed offshore acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, according to Rystad Energy.
The 4770 km2 Gambito 2020 3D survey will cover open acreage in deep and ultra-deep waters.
The contracts were with Woodside in Australia and Reliance in India.
The predicted spending reductions translate to a US$24.4 billion cut in 2020 compared to last year.
The company has also suspended its full year 2020 financial guidance.
The work commitment on Licence P2470 consisted of a small volume of 3D seismic reprocessing.
In January 2020 there were plans for approximately 50 exploration wells, but this has been reduced to 40 by the effects of the Covid-19 pandemic and low oil prices.
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price war.
Drilling at the Sobhi well encountered 108 ft net of high-quality gas-bearing sands, with an average porosity of 20%, near the base of the Kafr El Sheikh formation.
The oil was discovered in the exploratory Natator well in the Sudoeste de Tartaruga Verde block.
The data covers the company’s Welwitschia Deep prospect and Marula lead.