Oil and Gas News

TGS seismic data encourages Timor-Leste exploration

TGS, in collaboration with the National Authority for Petroleum and Minerals (ANPM), has commenced a 2Dcubed seismic data project covering offshore Timor-Leste.

The project combines all available open file and TGS multi-client data across an area of over 50,000km2. It has incorporated over 2500 lines and exisiting 3D’s within the planned area.

The 2D data, which includes over 45 legacy vintages, covers the entire offshore area of south of Time-Leste where the 11 offshore blocks in the second license round are located.

Timor-Leste’s government launched an international licensing round for oil and gas exploration in October 2019, following the ratification of a new maritime border treaty with Australia on August 30, 2019.

The government approved the allocation of 18 new blocks to petroleum activities, seven of which are onshore and 11 offshore, with ANPM conducting the public tendering procedures.

ANPM has extended the closing date for the tenders from October 2020 to the first half of 2021 due to COVID-19.

In addition, the availability of the first deliverables is expected from July 2020, with final deliverables estimated around September 2020.

As a result, TGS stated that this would allow E&P companies ample time for data evaluation prior to the closing of the license round in 2021.

TGS chief executive officer Kristian Johansen said this data would be the key to companies seeking to develop opportunities to invest in the oil and gas potential of Timor-Leste.

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