Investor News Story

Spectrum ASA: Spectrum commences Phase III of the Brazilian Santos Campos Multi-Client 2D Campaign (2017-12-20T07:30:00 CET)

This new acquisition program is a further extension of Spectrum's 2017 Santos Campos Phase II survey, covering an area in the southern Santos Basin. The area covered is included in the proposed sectors for the licensing round scheduled for 2019, Round 16. With this additional program, Spectrum will provide over 47,000 2D kilometers of modern long offset seismic data to industry for evaluation of this highly prolific Santos Campos hydrocarbon province.

The survey is being acquired with a 12 km long receiver cable to record data necessary to understand basin architecture as well as to image prospective zones in the pre-salt section. The data will be processed in Spectrum's Houston processing center with PSTM, PSDM (Kirchhoff and RTM) and Broadband products expected to be available in Q3 2018.

Richie Miller, EVP Multi-Client Americas, comments, "The Santos Basin of Brazil is one of the most attractive basins in the world. Adding new data with advanced imaging over an area in the Santos Basin with limited exploration history or data allows for industry to work this data and understand the complete Santos Basin for the first time.  Phase III will cover additional rift basins identified by our existing regional Deep Focus survey, and complete the coverage of the sectors proposed for Round 16."

This survey will be carried out in partnership with BGP Marine. A map outlining Spectrum's data coverage in the Santos Campos basin is included in the attachment to this notification.  

For further information, please contact:

Jan Schoolmeesters, COO
Tel: +47 91 77 79 61

Richie Miller, EVP Multi-Client Americas
Tel: +1 281 647 0602

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.

FINAL 2017-12-19 Spectrum SC3 release - OSE pdf