Oslo, Norway-based TGS signed an agreement with Tanzania’s Petroleum Upstream Regulatory Authority to manage and license the country’s offshore subsurface data, according to a June 20 press release.
Under the agreement, TGS reserves the right to license all of Tanzania’s offshore data, acquire future seismic data and reprocess existing data. The collection includes 2D and 3D seismic data spanning over 132,000 sq km in the Early Cretaceous and Miocene reservoirs.
TGS said the dataset includes regional seismic and well data for interpretations of the basin's evolution and structural history.
The data can also identify hydrocarbon plays and provide analysis and maps of trapping configurations, TGS said.
“Tanzania remains an attractive exploration target with its world-class gas fields and excellent sands proven across multiple source intervals,” said David Hajovsky, executive vice president of multiclient at TGS.
“By providing access to high-quality seismic data ahead of potential future licensing activities, TGS will empower exploration and production companies to evaluate opportunities in this under-explored but highly promising region of East Africa,” Hajovsky said.
The agreement also supports licensing rounds, which are anticipated for 2025.
RELATED
Recommended Reading
Oil and Gas Stocks Revel in a Post-Election Trump Bump
2024-11-08 - Oil and gas company stocks, particularly those of E&Ps and oilfield services, enjoyed a boost immediately following the presidential election of Donald Trump.
Oil Set for Weekly Loss on Surplus Fears After OPEC+ Cut Extensions
2024-12-06 - The Organization of the Petroleum Exporting Countries and its allies on Dec. 5 pushed back the start of oil output rises by three months until April.
Oil Prices Rise as OPEC+ Considers Delaying December Output Increase
2024-10-30 - Oil prices rose more than 2% on Oct. 30 after Reuters reported that OPEC+ could delay a planned oil production increase in December by a month or more because of concern over soft oil demand and rising supply.
Paisie: Trump’s Impact on All Things Energy
2024-12-11 - President-elect Donald Trump’s policies are expected to benefit the U.S. oil and gas sector, but also bring economic and geopolitical risks.
What's Affecting Oil Prices This Week? (Dec. 16, 2024)
2024-12-16 - For the upcoming week, Stratas Advisors expect oil prices will move sideways with more downside risk than upside potential.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.