Time products are available for an 11 000 km reprocessed seismic volume that covers the great extension of Uruguay's shallow and deepwater provinces from the Pelotas Basin to the Punta del Este Basin, with ties to our 15 600 sq. km 3D GeoStreamer dataset, enabling analog assessment of the recent equatorial margin Namibia discoveries.

This 2D project is the result of an agreement between PGS and Uruguay's state oil company ANCAP to reprocess 2D of different vintages, applying the latest imaging techniques. The data will provide seismic quality and coverage to perform regional and reservoir evaluation studies and unlock prospective opportunities from Paleozoic, Jurassic, Cretaceous, and Tertiary.

Data quality improvements can be seen in the shallow parts and also on the deeper targets and events, revealing mini-basins that were not previously visible. These permit a better understanding of the petroleum system, including the identification and distribution of source rocks, reservoirs, and seal/trap systems.

Conjugate Margin Analogies

Improved seismic data is important to support a reassessment of deepwater potential in the Cretaceous and Tertiary, as highlighted by the recent discoveries of Graff and Venus in Namibia’s Orange Basin, which is a conjugate margin of Uruguay. The rejuvenated Uruguay MC2D enables analog assessment of the recent Namibia discoveries.

There is an abundance of offshore exploration opportunities, supported by oil seeps, gas chimneys, and BSRs, indicating a working petroleum system. Most of these plays have yet to be tested.

About PGS

PGS ASA and its subsidiaries (“PGS” or “the Company”) is an integrated marine geophysics company, which operates worldwide. The Company supports the energy industry, including oil and gas, offshore renewables, carbon capture and storage. PGS’ headquarter is in Oslo, Norway, and the PGS share is listed on the Oslo stock exchange (OSE: PGS).