Investor News Story

Spectrum ASA: Spectrum Expands Broadband 3D and 2D Seismic Coverage Offshore Australia (2017-12-19T07:30:00 CET)

Spectrum has commenced a new Multi-Client Broadband 3D and 2D Reprocessing Project in the Otway Basin offshore Australia. This unique dataset comprises  7,950km² of 3D data from 16 existing 3D surveys and up to 7,000km of 2D data which will be reprocessed through a high-end PSTM and PSDM broadband sequence.

The project focuses around the 2018 Offshore Petroleum Exploration Acreage Release Proposed Areas in the Otway Basin announced today by the Australian Government.

This survey will provide an essential tool in conducting regional analysis, seamlessly tying existing discoveries to the outboard, frontier deeper water region. The Otway Basin is one of the few areas proven to be economically prospective, yet still under-explored. Spectrum believe there is significant future potential to be unlocked here.

The outstanding results on Spectrum's Olympus Multi-Client 3D Project, a similar, though much larger, seismic volume located in the North Carnarvon Basin, demonstrated the ability to vastly improve legacy vintage datasets through the application of modern processing technologies. The Otway Basin project represents another opportunity for significant imaging uplift.

PSTM data will be available for delivery during Q3 2018 with PSDM delivery shortly after and the entire project is supported by industry funding.

Map of area in attachment. 

 

 

For further information, please contact:



Jan Schoolmeesters, COO
Email: jan.schoolmeesters@spectrumgeo.com
Tel: +47 91 77 79 61

Ian T Edwards, Executive Vice President North-West Europe and Asia-Pacific
Email: ian.edwards@spectrumgeo.com
Tel: +44 7557 684592

About Spectrum

Spectrum provides innovative Multi-Client seismic surveys and high-quality seismic imaging services to the global oil and gas industry from offices in Norway, the UK, USA, Brazil, Egypt, Australia, Indonesia and Singapore. Spectrum designs, acquires and processes seismic data to deliver high quality solutions through its dedicated and experienced workforce.

Spectrum holds the world's largest library of Multi-Client 2D marine seismic data and a significant amount of 3D seismic. The company's strategy focuses on both the major, established hydrocarbon-producing regions of the world as well as key frontier areas identified by our experienced team of geoscientists. The Spectrum library of Multi-Client data contains projects from many of the foremost oil producing regions of the world. These include new acquisition, reprocessing and interpretation reports.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

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