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Geology & Geophysics a little explored region and further If vessel availability becomes an south in the Atlantic. Namibia’s issue in the next year or two, is

Orange River basin has huge that a problem for a multi-client potential soon to be tested by the survey based company?

exploration drill bit. Yet we also There are many suppliers of seismic consider the more mature basins vessels that we can turn to acquire offshore Norway and the UK to our datasets, and this is not likely have potential for new paradigm- to become an issue for Spectrum. changing plays to be sought and Selected, long-term cooperation explored, requiring Spectrum’s high agreements and involvement in quality seismic with an integrated excellent joint venture projects technologies approach to unlock the with vessel operators is proving its remaining potential. worth, and attractive to both vessel operators and Spectrum.

Spectrum was the frst company A short term shortage in peak

Offshore Lebanon seismic.

to carry out surveys in the season of vessel capacity may delay eastern Mediterranean many already have some of the best the start-up of a multi-client project, years ago. Why has it taken so 2D multi-client seismic coverage but in most cases we can plan for long for the industry to wake in the region. This data is now the long term with fexibility in up to the potential, and is the being superseded by our 3D delivery of the project.

company’s legacy data still surveys shot toward the end relevant? of last year. However, with so What next for Spectrum?

Due to the nature of our multi-client many oil companies coming into Spectrum aims to be number one in products we must always stay one exploration offshore Lebanon providing 2D multi-client seismic step ahead, thinking and acting very very late in the game, our 2D data. We have projects from Asia much like an oil company in the seismic is now providing an Pacifc, to Africa, Brazil, and the early phase of exploration. effcient and economical way for Mediterranean. Spectrum has been going to areas those companies to quickly get Spectrum will also continue like the Mediterranean, South up to speed. We combine our 2D moving into the 3D market. We have

America, and the North Sea to fnd seismic data along with specially- already acquired our frst multi- areas which will eventually become commissioned well reports, client 3D and we will acquire more interesting oil provinces. If you geological analysis reports, and 3D data in 2013.

had asked anyone fve years ago geopolitical information into a Last year is not going to be a whether Lebanon or Israel would Lebanon exploration starter pack record year for very long, 2013 will be hot spots for exploration, people – a focused product supplying be better. We have good visibility would probably have laughed at everything our clients need to on projects and on the people who you. Today this is truly a major begin their successful exploration work for us.

E&P region thanks to Noble’s gas evaluation of the region. Our industry is based on skilled discoveries in the Levantine basin people and although our new which are estimated to contain Can we expect Spectrum to organizational structure will more than 30 TCF of gas. Spectrum develop in any new directions in be fully tested over the coming was in Lebanon in 2002 back when the future in order to grow? months, we now have dedicated people were asking us why we were Our aim is to investigate new people to take care of various there. ways in which we can enhance regions from Africa to Asia Pacifc Only when Noble began making the exploration potential of the and this will have a major impact signifcant gas discoveries offshore basins in which we work. Often on the growth of the business.

Israel did the industry really this is through acquisition of We are working toward becoming begin to take notice of the eastern new seismic surveys to generate that hybrid company sitting

Mediterranean. enhanced imaging or achieve more between seismic companies and oil Even now, we believe that the comprehensive data coverage. companies. region is underexplored. Our However, we are now discovering I want our customers and the geoscientists postulate on the the benefts of integrating different industry to look on us not as a possibility that this area may yet geophysical disciplines with our seismic company, but one which produce signifcant oil discoveries seismic data. We have seen EM and sells prospects to oil companies, too. gravity gradiometry data provide integrating technologies to inform Our head start in the eastern uplift in the seismic processing of the oil companies on where they

Mediterranean means that we our data in some regions. should explore next.

oedigital.com March 2013 | OE 39 oe_spectrum_rev1.indd 39 27/02/2013 11:39