Offshore oil exploration takes off at the Malvinas Basin
Searcher Seismic has made its entry into Argentina with four new multi-client projects. Beginning in phases, the first phase comprises of an offshore basin analysis report providing a regional framework to understand the offshore basins of Argentina, assisting industry’s exploration efforts.
The report has a single stratigraphic scheme with several new play concepts, ranging from Permian to Miocene and is available now.
Phase 1 also includes a 2D seismic reprocessing project (the Malvinas Basin 2D Reprocessing Project) comprising approximately 15,000km of existing data over the West Malvinas Basin failed rift basin and is now underway.
The next phase of the campaign includes the Malvinas Basin Non-Exclusive 2D Seismic Survey; a regional survey comprising of about 11,000km and tying 18 exploration wells and a Malvinas Basin Seep Detection Program, both scheduled to start this year.
Rachel Masters, global sales manager for Searcher Seismic, said Searcher’s entry into Argentina continues with the strategic expansion of the company.
“Responding to industry needs is at the forefront of Searcher’s business model and Argentina is an area showing increased activity and interest.
“The Malvinas Basin in particular offers high impact, moderate risk exploration in shallow water, with a bid round expected to be announced later this year,” Masters said.