OKEA AS and partners Petoro AS and Neptune Energy Norge AS will acquire new 3-D seismic as part of their continued exploration efforts east of the Draugen Field offshore Norway, OKEA said July 1.
The survey, which will cover about 850 sq km, will be carried out by the Ramform Vanguard starting this month. The partners agreed to prefund the multiclient acquisition with PGS, a news release said.
The work comes following the companies’ decision to accelerate the exploration program on PL958 by at least one year, according to Andrew McCann, senior vice president, subsurface, for OKEA.
“This is an essential data component for further maturation of the resource potential in the acreage, particularly to map the extension of the Draugen Rogn trend into the unexplored area, which has not previously been covered by 3D seismic data,” McCann said in the release.
The company also said it expects to generate substantial free cash flow in 2018, allowing it to initiate a dividend in the first-quarter of 2019.
Ace Gathering Holdings LLC said March 6 it has completed its acquisition of Recoil Energy Systems LLC, a provider of crude oil reclamation services.
Companies at SPE ATCE will be highlighting new products and services.