TGS, the leading global provider of energy data and intelligence, in cooperation with JV consortium partners PGS and SLB, has announced that prefunding has been secured to expand multi-client seismic data coverage in the Sabah Basin offshore Malaysia.

The seventh phase of this multi-year project off the coast of Sabah encompasses over 5,000 kilometers of new 2D seismic data acquisition, over 2,600 kilometers of legacy seismic data processing, and 2,800 square kilometers of 2D-cubed processing as part of a multi-year contract originally awarded by PETRONAS in 2016.

Kristian Johansen, CEO at TGS, commented: “High-quality 2D seismic data across Sabah will be instrumental in promoting future bid rounds. It also allows E&P companies to further assess exploration opportunities in an under-explored proven petroleum system surrounded by prolific hydrocarbon provinces.”

“The 2D Multi-Client project will provide high-quality seismic data across Sabah. I am very pleased that we have secured pre-funding and we mobilized for the project in November 2023,” says Rune Olav Pedersen, President & CEO of PGS.

The Eagle Explorer vessel mobilized in November 2023, with acquisition completion anticipated in February 2024. Fast-track results are anticipated to be available for evaluation during the 2024 Malaysia Bid Round.

This project is supported by industry funding.

About TGS

TGS provides scientific data and intelligence to companies active in the energy sector. In addition to a global, extensive and diverse energy data library, TGS offers specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.

About PGS

PGS ASA and its subsidiaries (“PGS” or “the Company”) is a fully integrated marine geophysical company that provides a broad range of seismic and reservoir services, including data acquisition, imaging, interpretation, and field evaluation. Our services are provided to the oil and gas industry, as well as to the broader and emerging new energy industries, including carbon storage and offshore wind. The Company operates on a worldwide basis with headquarters in Oslo, Norway and the PGS share is listed on the Oslo stock exchange (OSE: PGS).

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition.