TGS will begin an in-depth 3D survey in the Norwegian Barents Sea, including the formerly disputed Norway-Russia zone.
The announcement comes after the firm posted a net quarter one revenue of $211million – up 5% from last year’s figures.
TGS will commence the 2D and 3D projects to provide clients with data prior to the closing of the 23rd Norwegian Licensing.
The survey will cover the eastern part of the Norwgian Barents Sea, including the newly opened area, which historically formed the crux of a Norwegian-Russian dispute.
The area, which is as big as Switzerland, is estimated to hold about 1.9billion barrels of oil equivalent. The dispute, which stretches back 40 years, was only resolved in 2010. The Norwegian parliament later voted in favour of exploration of the region.
A M/V GECO Eagle towing 10 streamers will carry out the 3D survey, covering a range of Jurassic targets including the new Wisting light oil discovery.