In partnership with China oilfield services company COSL, TGS announces two offshore projects in Brazil for early 2021

In partnership with China oil field services company COSL, TGS will mobilize offshore projects starting with the COSL vessel HYSY720 to start the acquisition of 3D Espírito Santo research by the end of the year

Seismic expert TGS started the Malvinas 3D program in Argentina and is now expanding two new offshore oil projects in Brazil alongside China. BGP's Prospector vessel will acquire approximately 5.000 square kilometers, bringing the total area coverage to 18.000 square kilometers. The survey is supported by industry funding and is expected to be completed in the first quarter of 2021.

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The company announces two new projects in the offshore oil industry in Brazil in partnership with China

TGS will mobilize the offshore oilfield services company COSL HYSY720 ship from China to start the acquisition of 3D research Espírito Santo by the end of the year. This is a Dual Azimuth (DAZ) survey covering an area of ​​1.400 square kilometers in the Espírito Santo Basin.

The China oilfield services company's vessel is currently in transit to Brazil and the acquisition is expected to close by the end of the first quarter of 2021. The survey is supported by industry funding and carried out in partnership with the oilfield services company services in China COSL oil fields.

In addition, TGS plans to commence a 2 km offshore 7.000D survey in the Pelotas Basin during the first quarter of 2021. The Pelotas 2D program will have in-depth imaging products available beginning in the third quarter of 2021, in time for the 17th round of licenses in Brazil. The new dataset will complement existing 2D TGS data coverage in the area and allow for better prospect mapping. The survey will be acquired in partnership with BGP, through its Pioneer vessel.

Together with China offshore oil company BGP, TGS plans to start a 7.000 km 2D survey in the Pelotas Basin during the first quarter of 2021

Kristian Johansen, CEO of TGS, commented: “Latin America is one of our key areas of focus and despite challenging market conditions, our customers continue to support our projects in this region. Strong, long-term partnerships with our suppliers allow us to share risk and reduce cash investments, which provides a unique opportunity to continue our countercyclical investment philosophy.”