PGS Completes Acquisition Orange Basin Seismic Data

The Petroleum Agency SA is providing a Technical Evaluation Period to allow for the review of the deep water Orange Basin non-exclusive 2D data acquired by PGS in 2002. A redefinition of block boundaries in this area will take place at the end of February 2003. Applications for Technical Co-operation Agreements (TCAs) and/or Exploration Leases for the deep water west coast will be evaluated by Petroleum Agency SA from August 1, 2003.

Under the terms of its agreement with Petroleum Agency SA, PGS has acquired a total of 3659 line km of Multiclient 2D (MC2D) seismic data in the deep offshore Orange Basin using the M/V Geo Explorer. An interpretation of the 2D has been conducted which shows a considerable sedimentary thickness in the deepwater, with preservation of syn-rift clastics over large areas. A variety of play-types are observed with large prospects and leads identified in the syn-rift and post-rift Cretaceous to Tertiary. Gravity and magnetic data have also been acquired. The fully processed 2D data from both Northern and Southern areas are available now.