Spectrum to Acquire 2D Seismic Offshore Croatia

Seismic data services firm Spectrum ASA reported Monday that it signed a contract in July with the Croatian government for the rights to acquire multi-client 2D seismic data, offshore Croatia.

Spectrum said it would acquire the seismic data using a vessel from SeaBird Exploration. It is currently mobilizing to acquire approximately 7,400 miles of long-offset seismic data.

The survey covers both the northern and southern parts of the Croatian Adriatic Sea and the survey grid will connect with Spectrum's reprocessed seismic data covering the Italian Adriatic. The results of the survey will also be used for scientific research purposes in   collaboration with local scientific institutions.

Acquisition is expected to finish during the fourth quarter of 2013 with processed products available by the end of 1Q 2014. The Government of Croatia plans to hold a licensing round over the country's offshore continental shelf in 2014.

Offshore Croatia is largely underexplored despite the presence of significant gas discoveries in the northern Adriatic. There are also proven oil discoveries in the southern Italian Adriatic and large-scale structures have been identified, but untested.

Spectrum expects the survey to attract high interest from oil companies.


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