TGS, a leading provider of multi-client geoscience data for exploration and production companies,on Oct. 21 revealed the recommencement of the geochemical coring project offshore Nigeria. The initiative is part of an anomaly targeting program focusing on the previously completed analysis of multibeam and backscatter data. This survey is being conducted in conjunction with Nigerian joint venture partner TGS-PetroData.
The coring leg began on Oct. 15 and completion is planned for late November. This coincides with an exciting time for the industry in Nigeria with significant progress being seen on the long-awaited Petroleum Industry Bill. The project covers an area of approximately 82,000 sq km offshore Nigeria and will incorporate 17 seabed heat flow measurements and 253 seabed cores whose location is based on multibeam and backscatter anomalies. These data are complemented by TGS’ NGRE19 2D seismic data reprocessed last year to take advantage of modern seismic imaging techniques. Once coring is concluded, geochemistry is undertaken in a world-class laboratory with preliminary results available daily and final reports ready for industry review in first-quarter 2021.
“This multibeam and seismic coverage alongside coring and geochemical analysis will further de-risk the offshore region and speed up exploration decision-making in an area which is likely to see a growing level of licensing activity in the near future. With the progress of the Petroleum Industry Bill, the opportunities to further explore offshore Nigeria have never been more appealing,” Kristian Johansen, CEO at TGS, said.
This project is supported by industry funding.
OPEC+ had been expected to extend existing cuts until at least March, after backing down from earlier plans to boost oil output by 2 million bbl/d.
OPEC, Russia and allies, a group known as OPEC+, had previously been expected to extend existing oil cuts of 7.7 million bbl/d, or 8% of global supplies, until at least March.
Magellan Midstream Partners said on Dec. 2 it will invest about $4.65 million to increase truck loading capacity at its refined oil products Cheyenne terminal in Wyoming by more than 50%.