Spectrum ASA: Spectrum announces 3D multi-client project offshore Australia


Spectrum (OSE: SPU) is pleased to announce the commencement of a new 3D multi-client project over the Vulcan Sub-basin, offshore North West Shelf, Australia.

The Cygnus 3D Survey is being acquired in collaboration with Polarcus and DownUnder GeoSolutions, and is supported by industry funding. The survey will comprise a minimum of 4,000 square kilometers and is designed to provide exploration companies with a basin-wide high quality broadband 3D seismic dataset over this proven hydrocarbon province.

Polarcus will use its XArray(TM) configuration with a 12.5m triple source shot interval and continuous recording, delivering 33% improved cross line sampling. Processing will be done by DownUnder GeoSolutions through a broadband Pre-SDM workflow and final processed data will be available from Q3, 2016 with Pre-STM fast track data available from Q1 2016.

 

The survey is adjacent to Spectrum's Cartier Main 3D survey, which was acquired in 2010 and recently reprocessed to broadband PSDM. With this latest survey, Spectrum's 3D coverage in the Australian North West Shelf will total 40,000 square kilometer of newly acquired 3D multi-client data (less than 5 years old).

 

"Spectrum   provides   innovative   Multi-Client   seismic   surveys   and high-
quality  seismic   imaging  services  to  the  global  oil and gas industry from
offices  in  Norway,   UK,  USA,   Brazil,  Egypt,   Australia,  Indonesia   and
Singapore.  Spectrum designs,  acquires  and processes seismic  data  to deliver high quality solutions through its dedicated and experienced workforce.
Spectrum  holds the  world's largest  library of  Multi-Client 2D marine seismic
data  and a significant amount of  3D seismic. The company's strategy focuses on both  the major, established hydrocarbon-producing regions  of the world as well as  key frontier areas identified by  our experienced team of geoscientists. The Spectrum  library  of  Multi-Client  data  contains  projects  from  many of the foremost  oil producing  regions of  the world.  These include  new acquisition, reprocessing and interpretation reports."

www.spectrumgeo.com

 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.