TGS Secures Major 3D Streamer Contract Offshore India
Wednesday, Nov 20, 2024 2:05 am ET
3min read TGS, a leading global provider of energy data and intelligence, has been awarded a significant 3D streamer contract by Oil and Natural Gas Corporation (ONGC) offshore India. This contract underscores TGS' strong position in the region and its commitment to supporting exploration efforts. The acquisition is scheduled to commence in May, with a total duration of approximately 35 days, further boosting TGS' first half 2025 services demand.
The award of this major contract aligns with TGS' strategic market entry into the Software Solutions market, as it leverages its advanced data technologies and extensive energy data library to support exploration and production efforts worldwide. This contract, along with other recent projects like the West Coast India seismic processing project and the PAMA 3D Phase 1 Survey in Brazil, demonstrates TGS' commitment to investing in high-potential regions.
TGS' recent success in the Indian market can be attributed to its expertise in 3D seismic data acquisition and its extensive library of multi-client data. The company's proprietary 2D-cubed technology, which creates a single, conformable, easily-accessible pseudo-3D dataset from 2D seismic data, was a key factor in its success. This technology allows for enhanced exploration potential by providing a comprehensive view of the subsurface, increasing confidence in license-round decision-making processes, and supporting further exploration.
TGS' global experience and expertise in 3D seismic data acquisition also played a significant role in winning this contract. With a proven track record in the region, TGS has completed similar scale projects, such as the West Coast India seismic processing project and the India East Coast 2D-cubed project. The company's advanced structurally conformable interpolation algorithms revitalize existing 2D multi-vintage and 3D data, optimizing subsequent 3D and 2D survey designs.
In addition to its technological advantages, TGS' strategic partnerships and collaborations have enhanced its chances of securing major contracts like this one. In August 2024, TGS announced a partnership with ComboCurve, enabling E&P companies to seamlessly integrate data and analytics, reducing asset evaluation time from months to days. Additionally, TGS entered the software solutions market with Imaging AnyWare, a cloud-based platform for advanced seismic imaging.
TGS' award of a major 3D streamer contract by ONGC offshore India significantly contributes to its revenue growth in the Indian market. This contract, along with other recent projects, demonstrates TGS' commitment to investing in the region and its ability to attract and retain clients. By providing high-quality, advanced data and intelligence, TGS is well-positioned to support exploration endeavors and maintain its competitive edge in the Indian market.
As the global energy sector continues to evolve, TGS' focus on innovation, strategic partnerships, and advanced data technologies will be crucial in driving its success. The company's ability to adapt to changing market conditions and capitalize on emerging opportunities will be key to its long-term growth and sustainability.
The award of this major contract aligns with TGS' strategic market entry into the Software Solutions market, as it leverages its advanced data technologies and extensive energy data library to support exploration and production efforts worldwide. This contract, along with other recent projects like the West Coast India seismic processing project and the PAMA 3D Phase 1 Survey in Brazil, demonstrates TGS' commitment to investing in high-potential regions.
TGS' recent success in the Indian market can be attributed to its expertise in 3D seismic data acquisition and its extensive library of multi-client data. The company's proprietary 2D-cubed technology, which creates a single, conformable, easily-accessible pseudo-3D dataset from 2D seismic data, was a key factor in its success. This technology allows for enhanced exploration potential by providing a comprehensive view of the subsurface, increasing confidence in license-round decision-making processes, and supporting further exploration.
TGS' global experience and expertise in 3D seismic data acquisition also played a significant role in winning this contract. With a proven track record in the region, TGS has completed similar scale projects, such as the West Coast India seismic processing project and the India East Coast 2D-cubed project. The company's advanced structurally conformable interpolation algorithms revitalize existing 2D multi-vintage and 3D data, optimizing subsequent 3D and 2D survey designs.
In addition to its technological advantages, TGS' strategic partnerships and collaborations have enhanced its chances of securing major contracts like this one. In August 2024, TGS announced a partnership with ComboCurve, enabling E&P companies to seamlessly integrate data and analytics, reducing asset evaluation time from months to days. Additionally, TGS entered the software solutions market with Imaging AnyWare, a cloud-based platform for advanced seismic imaging.
TGS' award of a major 3D streamer contract by ONGC offshore India significantly contributes to its revenue growth in the Indian market. This contract, along with other recent projects, demonstrates TGS' commitment to investing in the region and its ability to attract and retain clients. By providing high-quality, advanced data and intelligence, TGS is well-positioned to support exploration endeavors and maintain its competitive edge in the Indian market.
As the global energy sector continues to evolve, TGS' focus on innovation, strategic partnerships, and advanced data technologies will be crucial in driving its success. The company's ability to adapt to changing market conditions and capitalize on emerging opportunities will be key to its long-term growth and sustainability.
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