Australia-listed Tetragon Energy has awarded a seismic reprocessing contract to DUG Technology as it begins the exploration phase of its offshore oil and gas program in the Philippines…
Published
Australia-listed Tetragon Energy has awarded a seismic reprocessing contract to DUG Technology as it begins the exploration phase of its offshore oil and gas program in the Philippines.
The contract covers the reprocessing of four existing 3D seismic surveys spanning more than 4,000 sq km across Service Contracts (SC) 80 and 81, together with selected 2D seismic data.
The work is valued at $1.45 million, equivalent to around $590,000 net to Tetragon.
The seismic processing will be carried out by Perth-based DUG Technology using its advanced imaging technology and global supercomputing network. Initial fast-track seismic products are expected within six months, while the final processed dataset is scheduled for delivery within 12 months.
Tetragon said the reprocessed seismic data will be used to better define the prospectivity of the offshore permits and support discussions with potential farm-in partners.
The company is the operator of the SC-80 and SC-81 offshore permits with a 37.5% interest. The joint venture also includes Sunda Energy, Philodrill and PXP Energy. Tetragon also holds a 100% interest in, and operates, the onshore
Content Original Link:
" target="_blank">
