Spectrum Unveils Seimsic Data for Offshore Iceland Licensing Round

Spectrum released details of over 10,000 km of 2D Multi-Client seismic data located over the Dreki/Jan Mayen Ridge (JMR) area offshore the north-eastern coast of Iceland. These datasets are situated within the acreage being offered by the National Energy Authority of Iceland as part of the Second Licensing Round for hydrocarbon exploration and production licenses on the Icelandic Continental Shelf. The Round was opened on October 3rd 2011 and the application deadline is April 2nd 2012.

The JMR and northern Dreki area are believed to have potential for hydrocarbon accumulations due to their similarity to the hydrocarbon basins in Norway and East Greenland. The presence of layered basalt sequences within the Jan Mayen Ridge and adjoining basins has historically made deep seismic imaging difficult. Spectrum's experience of sub-basalt processing has improved the seismic imaging below these extensive basalt sequences.

Spectrum Unveils Seimsic Data for Offshore Iceland Licensing Round

The Spectrum datasets have identified pre-Tertiary basalt sequences (possibly Mesozoic) and a number of seismic anomalies indicating hydrocarbons may be present. All the elements of a potential working hydrocarbon system have been identified within the area in both structural and stratigraphic play types.

Spectrum's Multi-Client datasets comprise 4 vintages of data, all with Pre-Stack Time Migration (PSTM) applied and have been specifically processed to provide improved imaging below the basalt. Two surveys were acquired in 2001 and 2008. The IS-JMR-01 dataset was acquired in 2001 and totals 2,765 km and the IS-JMR-08 dataset was acquired in 2008 and totals 859 km. All of the 2008 data has PSTM applied and in 2009, 1,760 km of the 2001 dataset was reprocessed using the latest techniques such as Fully Ray-Traced Kirchhoff Pre-stack Time Migration. The remaining 1,000 km of data is currently being reprocessed.

In addition, in 2009, two datasets from 1985 and 1988 were reprocessed through a PSTM sequence giving an additional 5.240 km of 2D seismic over both the area in the current licensing round and to the North towards Jan Mayen Island.

Two regional tie lines totaling 1,702 km also link the Jan Mayen Ridge through the Lofoten Basin and towards the prospective Barents Sea margin and the proven petroleum system of the North Voering Basin, offshore Norway. These data were also reprocessed in 2009.
These datasets will allow exploration companies to assess the prospectivity on a regional scale and high-grade areas for more focused future acquisition programs. Thus, they will provide a cost-effective tool for early-stage evaluations of the hydrocarbon resource potential.