Building on the success of its 25,000 sq km (9,652 sq miles) 3-D BroadSeis survey, which led to the recent Boudji-1 and Ivela-1 oil discoveries, CGG is extending its Gabon multiclient data footprint with a 9,800-km long-offset 2-D seismic survey in an unexplored deepwater area of the South Basin.
A subset of the data over the offered license blocks will be available in advance of Gabon’s 12th offshore licensing round planned for June 2019.
The new 2-D data will help define the full extent of existing and new plays in the region. It will also aid in understanding the thickness variations in the sediment overburden for source rock and maturity analysis. CGG’s advanced broadband processing workflow will increase the resolution and improve the characterization of the turbidite systems that represent potential exploration targets.
The low frequencies delivered will provide deep penetration to enhance understanding of the nature of the deep crust. New insights from this survey will expand and update CGG’s current JumpStart integrated geoscience package.
“This survey marks a continuation of our long-term successful partnership with the Gabonese Republic’s Ministry of Petroleum and Hydrocarbons to support and promote the potential of Gabon’s deep waters,” Sophie Zurquiyah, CEO of CGG, said.
Proxy advisory firm Institutional Shareholder Services backs Carl Icahn’s call for more Occidental Petroleum shareholder say after Occidental’s takeover of Anadarko Petroleum.
"None" of Icahn's nominees "possess skills, experience or expertise that are additive or superior to our existing directors," wrote Occidental CEO Vicki Hollub and Chairman Eugene Batchelder.
The agreement could put an end to a bitter fight over Occidental's ill-timed purchase of rival Anadarko Petroleum last year, a bet on the continued growth of U.S. shale.