Schlumberger announced that PETRONAS, through its wholly-owned subsidiary, PETRONAS (E&P) OVERSEAS VENTURES SDN. BHD., has signed an agreement to license a significant part of the WesternGeco Campeche wide-azimuth (WAZ) deepwater multiclient seismic survey in the southern Gulf of Mexico.

“We are pleased to have the opportunity to expand our collaboration with PETRONAS in Mexican waters of the Gulf of Mexico,” said Maurice Nessim, president, WesternGeco, Schlumberger. “The great potential of the area and complexity of the geology in the Campeche basin requires high-quality wide-azimuth acquisition to image the subsalt effectively. We will leverage our extensive U.S. Gulf of Mexico experience to deliver enhanced subsalt imaging and additional exploration solutions to our clients.”

“PETRONAS is looking for high-quality global growth opportunities and we plan to use the best available technology to focus our search for these opportunities,” said Emeliana Rice-Oxley, vice president of Exploration, PETRONAS. “The WAZ seismic will help unravel the hydrocarbon potential in the complex and under explored Mexican deepwater basins. This agreement is a step towards achieving our growth strategy and demonstrates our long-term commitment to exploration in Mexico. This will enable PETRONAS’ growth efforts in high grading selective new investments to strategically position ourselves and grow in the region, in support of Mexico’s Energy Reform. In addition to Gulf of Mexico, PETRONAS also has a sizeable library of multi-client seismic data covering the southern Atlantic Margin, which is also part of our exploration focus area.”

The WesternGeco Campeche WAZ deepwater multiclient seismic survey is located in the southern Gulf of Mexico. More than 80,000 km2 of newly imaged subsurface data, which have been acquired in the last 12 months, are available for oil and gas companies participating in exploration in Mexico. The project follows the Mexican government’s opening of licensing rounds to non-government companies for the first time.

About Schlumberger

Schlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. Working in more than 85 countries and employing approximately 100,000 people who represent over 140 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance.

Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $35.47 billion in 2015. For more information, visit www.slb.com.

About PETRONAS

Petroliam Nasional Berhad (PETRONAS), established in 1974, is Malaysia’s fully integrated oil and gas multinational ranked among the largest corporations on FORTUNE Global 500®.

The growing demand for energy inspires and strengthens our purpose to steadily drive for new solutions and push boundaries towards a sustainable energy future.

We apply innovative approaches to technology which helps us unlock and maximise energy sources from even the most remote and difficult environments. Our fully integrated value chain spans from exploration to marketing, logistics to technological infrastructures, with 91 partners worldwide.

PETRONAS has its principal office in Kuala Lumpur and reported revenues of USD 63.5 billion (MYR 247.7 billion) in 2015.