PGS and Joseph Exploration (JEX) have formed a technical collaboration in the West Cameron protraction area, Gulf of Mexico, the companies said on May 21.
Under this agreement, PGS will provide seismic data from the MultiClient 3D Flex Trend dataset for prospect development work to be undertaken by JEX. The prospect development work will benefit from collaboration between PGS processing and imaging experts and the JEX technical team.
The study area in West Cameron is a subset of the PGS Flex Trend dataset which was acquired between 1993 and 1999 comprising of 21 individual surveys and covering 32,930 sq km across the U.S. shelf and shelf break. This dataset has been rejuvenated several times between 1993 and 2021 taking full advantage of evolving imaging technology. The latest dataset supports exploration of deeper prospective intervals below the Pleistocene level than was possible with earlier imaging. Furthermore, this area is well-positioned to leverage existing infrastructure which reduces field development time and overall investment costs.
“Joseph Exploration (JEX) brings an exploration methodology that leverages the importance of salt kinematics to unlock overlooked hydrocarbon potential,” Elazar Ovalle, CEO of JEX, said. “There remains a prospective trend in this area of the Gulf of Mexico and quality seismic data like what is being provided by PGS is critical to successful exploitation. We are very pleased to work within this alliance for the mutual benefit of PGS and JEX.”
Williams said it reached an export agreement with Beacon Offshore and its co-owner for the Shenandoah deepwater oil field through its Discovery infrastructure in the central Gulf of Mexico.
Recoverable resources are between an estimated 8 and 23 million barrels of oil equivalent, Equinor and partners say.
The project is located approximately 138 miles (222 km) offshore in the Gulf of Mexico at a water depth of 4,400 ft.