The TGS Will Acquire Spectrum and a New Multinational Company Specializing in 2D and 3D Seismic Services Will Be Born.
The Brazilian offshore mergers market remains active; this time, TGS announced last Friday (5/3) that it will acquire Spectrum Geo, creating a new global company in the field of 2D and 3D seismic services.
The deal has already been approved by the boards of directors of the companies, and the expectation is that by mid-May, the documents formalizing the transaction will be sent to the regulatory authorities for approval, and that the deal will be concluded by the end of September this year.
The preliminary cost estimate for the new company will be around US$ 20 million annually and demonstrates the interest and planning of the companies in the investments to come in the pre-salt.
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History of Partnership Between the Companies
Regarding Spectrum, the company has a strong presence in the South Atlantic, and as stated in a press release, the company declares, “With TGS’s database and financial strength, the new company will be well positioned to accelerate investment plans in 3D seismic.”
Currently, the companies are already participating together in the seismic campaign in the southern area of the Santos Basin, and the vessel used is the Yang Shi You 720, from China Oil Field Services (COSL).

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