TGS to expand activities in Brazil and Argentina

10/05/2019

TGS plans to expand the number of multi-client seismic campaigns in Brazil and Argentina, countries considered central to the company’s growth. According to the Norwegian service provider, the Brazilian market favors new activities due to the new auctions and the simplification of its regulatory system.

In its financial report released on Thursday , TGS stressed that it is focusing its campaigns in areas of greater competitiveness, such as the pre-salt, in view of the schedule of bidding rounds for exploratory blocks already defined until 2021.

After a four-year hiatus, TGS resumed data collection in the Brazilian pre-salt in April last year. The survey of 200 thousand km² of 2D data covered areas in the Campos and Santos basins.

Six months later, the company began exploratory activities in the southern portion of Santos, in addition to the Exclusive Economic Zone (EEZ). At the end of April, the company returned to the EEZ to focus on blocks that will be offered in the 16th round of concessions in October. The campaign in Santos is done in partnership with Spectrum, which was purchased by TGS.

The service provider said it should make available to the market seismic data recently collected in the Campos Basin in the second half, before the 16th round of the ANP.

Source: Brazil Energy Magazine

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