GEORGETOWN, Guyana, CMC – The Guyana government has announced the advancement of the 3D Multi-Client Seismic acquisition following an international procurement process that commenced on September 6, 2024.
It said that this partnership with Viridien, formerly CGG Services (US) Inc, represents a major step in strengthening Guyana’s offshore petroleum framework and advancing the modernisation of the energy sector.
The Ministry of Natural Resources (MNR) said that the two parties have maintained a working relationship since 2010, during which the company has been responsible for acquiring, processing, and managing the country’s seismic data.
“This new agreement continues a long-standing partnership founded on years of successful collaboration. Viridien is a global advanced technology and Earth data company specialising in geoscience, subsurface imaging, and high-performance computing (HPC) for energy, mining, and environmental sectors. The company has decades of experience in seismic acquisition and processing and is one of the foremost global experts in the field,” the MNR said.
It said that the 3D seismic survey is an advanced geophysical method that uses sound waves to create detailed, three-dimensional, high-resolution images of the earth’s subsurface, primarily used for mapping geological structures, identifying oil and gas deposits, and optimizing drilling.
“The new agreement enables large-scale seismic acquisition without direct public expenditure. This is done through pre-funding, in which energy companies provide early capital for geophysical surveys in exchange for exclusive early access to the data.
“All data acquired will remain the sole property of the Government of Guyana, preserving our sovereign ownership of national petroleum data. The data can, however, be licensed to third parties for a fee. “
The MNR said the survey will cover approximately 25,000 square kilometers offshore Guyana, including all 11 blocks from the 2022 Licensing Round located south of the Stabroek Block and continuing to the Guyana-Suriname border.
It said the agreement also allows for the reprocessing and integration of existing seismic survey datasets over the three survey lots.
“Thanks to advanced seismic acquisition and processing technologies, the 3D survey will materially de-risk the Guyana Basin, thereby enhancing the exploration decision-making process and increasing investor confidence. Furthermore, this data would bolster the basin’s marketability in future bid rounds and firmly position Guyana competitively within the regional exploration market,” the MNR said.
In addition to the sector-wide benefits, the acquisition partners have also agreed to maximise the use of local content in accordance with national legislation and provide technical training and capacity-building for petroleum sector regulatory agencies.
The MNR said acquisition activities will commence upon securing the necessary pre-funding commitments, adding that the acquisition phase is expected to take approximately one year, followed by processing and interpretation.
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