Oslo-based seismic company PGS, in collaboration with joint venture partners TGS and SLB, has obtained pre-funding to expand the multi-client 3D seismic coverage in the Sarawak Basin, located offshore Malaysia. This initiative aims to support the growing interest in oil and gas exploration in the region.

This undertaking constitutes the third phase of a multi-year contract awarded by Petronas in August 2020. The project's goal is to acquire and process up to 105,000 square kilometers of multi-client 3D seismic data over five years in the Sarawak Basin. The first two phases covered 8,400 square kilometers and 6,800 square kilometers, respectively.

Petronas, through Malaysia Petroleum Management (MPM), is actively enhancing its data sets to uncover new exploration opportunities, particularly in imaging the pre-Middle Miocene Unconformity (MMU) play in the deepwater area of Sarawak Basin. This improvement will aid in assessing potential exploration prospects and participation in the Malaysia Bid Round.

PGS President & CEO, Rune Olav Pedersen, expressed enthusiasm about securing pre-funding for the third phase, which will begin as the second phase concludes. He highlighted the strong exploration interest in the Sarawak Basin, a proven petroleum system with numerous producing fields. The acquisition of MultiClient data using PGS's Ramform vessels and GeoStreamer technology will provide high-quality regional seismic data, enhancing the understanding of the area's petroleum systems.

The Ramform Sovereign seismic acquisition vessel, built in 2008, is set to complete Phase 2 in August, with final deliverables available in the second quarter of 2024. The vessel is expected to mobilize for Phase 3 in late August 2023, covering around 5,300 square kilometers. Acquisition completion is anticipated in late November 2023.

TGS CEO Kristian Johansen highlighted the significance of the Sarawak Basin as a vibrant exploration hotspot in Southeast Asia, with numerous recent oil and gas discoveries. The third phase of the Sarawak multi-client program aims to support the growing exploration interest in the region.

PGS has been actively securing new deals in recent months, including assignments for seismic acquisition vessels offshore Africa and in Brazil, as well as a 3D exploration acquisition contract in the Mediterranean.