SeaBird awarded 2D seismic data campaign

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Thursday, November 20, 2014

Seismic data services firm SeaBird Exploration received a letter of award (LOA) from fellow data provider TGS-NOPEC to acquire up to 300,000km of 2D seismic data offshore Mexico and the US, according to a SeaBird release.

"The LOA provides TGS access to charter up to six seismic vessels from SeaBird over a period of approximately 36 months and is estimated to commence in 1H15, subject to issuance of permits to TGS," the statement said.

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The survey will cover a minimum of 150,000km and have an estimated value of US$88mn-176mn, the company said, depending on how much area is covered.

SeaBird has cited Mexico as a potential growth market following energy reforms that allowed private investment in the oil and gas sector, noting that only 20% of its offshore acreage has been surveyed.