PGS Completes North Sea EM Campaign

Petroleum Geo-Services says that its Multi-Transient EM division has completed a series of surveys in the UK and Norwegian sectors of the North Sea in a project designed to raise awareness of the capabilities of its technology in a marine environment. The self-funded project has identified five prospects in the North Sea upon which to prove the effectiveness of direct hydrocarbon detection as a potent offshore exploration tool. PGS mobilized a dual vessel operation comprising CS Sovereign and Esvagt Connector to acquire data across prospective areas for a number of major operators. Leon Walker, president of the Multi-Transient EM business unit, said: "We know the technology will help pinpoint the next round of oil and gas discoveries in the North Sea, and the results we have delivered back up this viewpoint." "We missed the budget round for the clients in 2007, so it made perfect sense to launch a campaign to showcase exactly what this method of detecting hydrocarbons is all about." "As well as prospecting blocks for some of the biggest players in the UK and Norwegian sectors, this operation allowed us to collect a lot of important data which we can then utilize in the future. Most importantly, we will be able to show the clients the results so we can get into their budgets for 2008." PGS Multi-Transient EM is actively pursuing opportunities onshore and in shallow seas worldwide, and has recently signed a contract with the North American Oil Sands Corporation (NAOSC). The work will begin in January 2008 on 130 line kilometers in the Thornbury area in NAOSC's Alberta heavy oil land holding and is expected to take around two months to complete. The contract will see PGS deploy its technology on a large-scale survey for the first time in an oil sands province. The technique produces high-quality data, which can cut the need for extensive drilling by pinpointing the likely areas of hydrocarbon deposits. It is also less intrusive than traditional imaging methods currently used in oil sands exploration.

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