TGS has announced a strategic collaboration with Axxis Geo Solutions (AGS) for multi-client ocean bottom node projects in the North Sea.
The area of mutual interest covers the core part of the central North Sea up to and including the Utsira area.
Under the agreement, the parties will work together to develop opportunities to co-invest in multi-client ocean bottom node projects. TGS will have a right to process all new node data acquired under this collaboration.
As part of this collaboration, TGS will join the 1,560 km2 Utsira node multi-client project which is currently being acquired by AGS in the Norwegian North Sea.
“E&P companies have for a long time recognized that ocean bottom nodes can deliver a significant uplift in data quality. Technology development and operational efficiencies are bringing costs down to a level where large-scale exploration node surveys are becoming an attractive option to support exploration and drilling decisions. This is TGS’ second ocean bottom node announcement related to 2019 investments and we are excited by the momentum that we see in this market,” said Kristian Johansen, CEO, TGS.