Quantcast

Spectrum ASA: New Spectrum 2D Multi-Client Survey to Define Hydrocarbon Potential Offshore Mozambique

By GlobeNewswire,  December 08, 2017, 02:00:00 AM EDT


Spectrum announces the commencement of a 2D seismic survey offshore Mozambique on behalf of the Institute of National Petroleum (INP) and in anticipation of future license rounds.

This new 2D seismic programme of up to 19,000 km will be undertaken utilising a 10,000 m long offset with continuous recording to enable extended recording lengths and high fold data. It is being acquired to complement existing 2013 seismic data located in the Mozambique Channel area which is also available through Spectrum. Gravity and magnetic data will be acquired in conjunction with seismic data to allow for independent verification of structure.

Spectrum EVP of the Africa Region, Graham Mayhew commented, "This new Multi-Client survey will play a key role in refining our understanding of the hydrocarbon potential offshore Mozambique between the Southern Rovuma Basin and the North-East of the Zambezi Delta, and accelerate exploration in an area considered to be significantly more oil-prone. In addition the data will also provide the basis for future license rounds as planned by INP."

The data will be processed to generate Broadband products with first deliveries in Q3 2018. This survey will be carried out in partnership with WesternGeco and is supported by Industry funding.

For further information, please contact:

Jan Schoolmeesters, COO

Email: jan.schoolmeesters@spectrumgeo.com

Tel: +47 91 77 79 61

Graham Mayhew, EVP Africa, Med and Middle East

Email: graham.mayhew@spectrumgeo.com

Tel: +44 7768 505 334

About Spectrum

Spectrum provides innovative Multi-Client seismic surveys and high-quality seismic imaging services to the global oil and gas industry from offices in Norway, the 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.

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



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Spectrum ASA via Globenewswire



This article appears in: News Headlines

Referenced Stocks: FTFT


Latest News Video









Today's Market Activity

NASDAQ 6936.58
80.05  ▲  1.17%
DJIA 24651.74
143.08  ▲  0.58%
S&P 500 2675.81
23.80  ▲  0.90%
Data as of Dec 15, 2017