PGS Commences Springboard MC3D in South Australian Hotspot

PGS is pleased to announce the successful commencement of the Springboard MC3D program in the Ceduna sub-Basin offshore South Australia. The Springboard MC3D has significant industry support and is being acquired by the Ramform Sovereign, a PGS state-of-the-art seismic vessel that utilizes PGS' GeoStreamer® technology.

The proven capabilities of GeoStreamer, PGS' leading-edge towed streamer acquisition technology will enhance hydrocarbon exploration efforts by giving greater confidence in subsurface imaging, improved prospect definition and identification as well as better geological modelling with less reliance on sparse well data. The program will see some 8,000 sq km of industry leading GeoStreamer data acquired in this frontier area.

About the Ceduna sub-Basin
The Ceduna area has become a hotspot for exploration activity following recent gazettal round awards to major E&P companies and represents a significantly under-explored frontier area with the Springboard survey area presently lacking any 3D seismic data. It is widely expected that drilling will commence in this deep water area in 2016/2017 and, as such, all companies will be seeking to improve confidence in their leads and prospects with the new high quality Springboard 3D seismic data.

For more information about this survey and/or the PGS MultiClient library in Australia and the rest of Asia Pacific, please contact:

Source: PGS Press Release