Shearwater GeoServices Holding AS (Shearwater) ramps up its multi-client activity and announces the start of the Pelotas Basin 3D project. This is the fifth multi-client 3D acquisition project so far.
The Pelotas Basin 3D project is adding to the company’s existing library in the conjugate Orange Basin of Namibia and is a continuation of the co-operation with joint-venture partner Searcher Seismic. The Pelotas Basin attracted significant interest in the recent 4th Cycle of the open acreage bid round and the project is supported by industry funding. The initial phase of the Pelotas Basin 3D will be 3,800 km2, with a planned extension.
The joint-venture partners have prior to this successfully acquired over 12,500 km2 in the highly prolific Orange Basin with significant industry support from multiple clients. Clients are now benefitting from Shearwater’s high quality fast-track data as farm-in opportunities are assessed and drilling campaigns continue. The final products of the four adjacent projects in the Orange Basin will be delivered upon completion of processing throughout 2024.
In addition to the above-mentioned projects, Shearwater is well under way establishing its multi-client organization having added complementary resources and partnerships, while benefitting from the core strengths of the company.
Irene Waage Basili, CEO, Shearwater, said: “It’s an exciting time as we build a fit for purpose organization to support Shearwater’s organic entry into multi-client [activity]. Together with complementary partnerships, we are building a portfolio of investment opportunities for the future. These projects consolidate our entry into the multi-client domain. Making our robust asset base and industry leading technology accessible under the multi-client model demonstrates our continued ability to deliver value to our stakeholders in a changing marketplace.”
