Page 31: of Offshore Engineer Magazine (Feb/Mar 2013)

30 32

Geology & GeophysicsGeology & GeophysicsGeology & Geophysics the end of April offshore Angola, the map of prospective offshore

Geo Caribbean (Fugro) for the Gulf seismic areas of the world has of Mexico at least until the end of been subject to some unexpected

June, and Akademik Shatskiy for additions in the last two or three offshore Colombia in the early part years, even if the North Sea and of this year. For the upcoming North Gulf of Mexico still generate the

Sea season, TGS has contracted most seismic business.

Dolphin’s newbuild 16-streamer

Offshore seismic demand

Sanco Swift for three months Anticipated events by region

Arctic Ocean from July, as well as vessels from Starting in the South American

Growing, but unlikely to be substantial in

CGGVeritas and Fugro. region, who could have anticipated the near to medium term.

With this business model that PGS would be deploying the

North Atlantic eliminating the cost of full-time Ramform Vanguard to carry out

Strong growth in Barents Sea and high operation of seismic vessels, a huge 15,550 sq km multi-client activity in the North Sea and Norwegian

TGS has proved extraordinarily survey offshore Uruguay to cover

Sea.

successful. It has almost completely blocks 6, 11, 12 and 15, which

North Paci? c avoiding the roller coaster, cyclical were awarded in the 2012 second

Some activities expected in Sakhalin as well as growth offshore China.

revenues of marine seismic licensing round? The company is contractors. In the last 10 years, the said to be working closely with

Mediterranean

Region still affected by recent political company has grown its revenues state agency ANCAP and block changes but exhibiting high interest in the sevenfold, from $124 million in operators to improve the collective eastern Mediterranean.

2001, to a record $931 million in understanding of the regional

Gulf of Mexico 2012, a compound annual growth geology. PGS also has the Ramform

Still to return to previous levels.

rate of 22%. The vast proportion of Sterling and Ramform Challenger

Caribbean & Central America

TGS’ revenues come from marine working off the Falkland Islands for

An increasingly signi? cant province.

seismic data sales, although the Noble Energy and Falkland Oil &

Indian Ocean company has made efforts in recent Gas (FOGL).

High activity on the East Africa Margin and years to diversify, notably with The most anticipated event in a revival offshore India.

its digital well log business and the region is the long-delayed

Southeast Asia lately, multi-client onshore seismic 11th Brazilian licensing round,

Australian waters to remain a key market. surveys following the acquisition of focusing on the equatorial margin

High potential offshore Indonesia and

Canadian company Arcis Seismic and mature basins, which is now considerable demand offshore Malaysia.

Solutions. expected to be held in May. There

South Atlantic TGS’ full year revenues for 2012 are 174 blocks on offer, of which 87

West Africa margin remains a key area, were 53% up on 2011, suggesting are expected to be offshore, much of with Angola a hot spot. Brazil to remain slow. Sizeable surveys in 2013 off Uruguay, the global spread of seismic the acreage classi? ed as frontier. the Falkland Islands, Namibia and South exploration survey opportunities. This is due to be followed by

Africa.

Successful multi-client surveys the pre-salt round in November.

Source: PGS are most often the outcome of Virtually all the seismic companies accurately anticipating licensing have Brazilian data in their rounds around the world. The libraries. After the January 2013 global E&P spending

Russia +7% on 2012 majority of TGS surveys are 2D announcement of the eleventh 2013 budget US$50.3 billion seismic over large offshore areas round by Brazilian president Dilma

Europe +6% on 2012 that enable oil company customers Rousseff, the multi-client specialist 2013 budget US$47.7 billion to evaluate the prospectivity of Spectrum was quick to announce

US +0.7% on 2012 blocks when they come up for that it had recently acquired 2013 budget US$139.7 billion bid. The most pro? table surveys 38,588km of long-offset seismic

Middle East +11% on 2012 are 3D multi-client: they are more data in areas pertaining to the 2013 budget US$29.8 billion expensive to put together but round and also had other data being provide a much better return, reprocessed.

India/Southeast Asia +11% on 2012 2013 budget US$103.7 billion which is why the major players are seeking out more of the business for Caribbean, Gulf of Mexico

Latin America +15% on 2012 2013 budget US$72.8 billion themselves. Exploration interest extending into Aggressive marketing of the Caribbean has been transformed

Africa +5% on 2012 2013 budget US$24.7 billion multi-client studies can be expected since the deepwater discovery of oil

Source: Data from TGS and Barclays Research to help drive the marine seismic by Tullow Oil in the Zaedyus-1 well ( )Barclays Capital Survey business in 2013. At the same time, off French Guiana. The company oedigital.com February 2013 | OEFebruary 2013 | OE 3333 oe_G&GFEBv2.indd 33 31/01/2013 10:35