PGS has been selected by Egyptian Natural Gas Holding Company (EGAS) to supply services related to the largest seismic oil and gas exploration project in the Mediterranean.
The multi-client agreement covering Egypt’s Western Mediterranean Sea was signed Wednesday June 24, 2015 by Egyptian Natural Gas Holding Company (EGAS) and PGS Egypt.
The project is designed to rejuvenate the existing 2D and 3D seismic database, and further develop the knowledge base of this exciting exploration region. A series of new acquisition projects are planned, with new 2D acquisition expected to start towards the end of this year.
These will apply the most advanced new broadband seismic technology, PGS GeoStreamer. PGS is currently discussing the pre-funding of these projects with interested companies.
“The work program associated with this project will further increase PGS’ MultiClient expertise and coverage in the Eastern Mediterranean, gathering new insights to define the hydrocarbon systems in place, in close collaboration with EGAS and the petroleum industry,” said the company in a press release.