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Source: Oil Now

Norwaybased integrated marine geophysical company PGS has been awarded a significant 4D acquisition contract by ExxonMobil for work offshore Guyana where over 9 billion barrels of oil equivalent resources have been found since 2015.

A Titan class vessel is scheduled to mobilize for the project in Q4 2021 and acquisition is planned to be completed in Q1 2022.

“We acquired the 4D baseline of this area and consider it strategically important for us to be awarded a repeat survey for parts of the initial program,” said President and CEO of PGS, Rune Olav Pedersen. “We are very pleased with the recognition of our Ramform acquisition platform and superior multi-sensor GeoStreamer technology, which are well suited for high-quality 4D acquisition programs.”

Pedersen said the contract adds further visibility to the company’s order book for the coming winter season.

ExxonMobil is operator of the prolific Stabroek Block as well as the Kaieteur and Canje acreages. The Tanager-1 well spudded on the Kaieteur Block in 2020 turned out to be non-commercial as well as the Bulletwood-1 prospect on the Canje Block, announced this year. Nevertheless Exxon continues exploration activities across the 6.6 million Stabroek Block and is also currently drilling the Jabillo-1 prospect on the Canje Block, with results expected soon.

PGS vessel Ramform Tethys was one of the two vessels the Venezuelan navy had intercepted while it carried out surveys for ExxonMobil offshore Guyana back in 2019.