Norwegian energy data and intelligence company TGS has secured an extension of its agreement with the Somali government to continue marketing and licensing offshore geophysical data for the African country’s acreage, described as among the world’s most under-explored hydrocarbon regions.
The extension of the deal with Somalia’s Ministry of Petroleum and Mineral Resources gives TGS continued rights to market and license geophysical data covering offshore basins, reinforcing the firm’s long-term commitment to supporting the development of the country’s energy sector.
David Hajovsky, Executive Vice President of Multi-Client at TGS, said the extension further underscores the company’s long-term commitment to the Federal Republic of Somalia and its offshore licensing program. He noted that with access to their exclusive, modern seismic and aeromagnetic library, they are ready to support the Ministry of Petroleum and Mineral Resources as they open up one of the world’s last frontier hydrocarbon provinces.
TGS’s comprehensive regional data library enables energy companies to evaluate the significant exploration potential across Somalia’s offshore areas. The datasets are deemed critical for companies assessing investment opportunities across numerous available offshore blocks.
The agreement allows TGS to continue offering exclusively over 46,000-line kilometers of modern 2D seismic data and more than 50,000 kilometers of aeromagnetic data, providing essential insight into the geological framework and prospectivity of the region through acquisition technology and advanced imaging solutions. The extension follows the company’s recent multi-client 2D-cubed project offshore India’s Andaman region.
Source: offshore-energy.biz