ION Geophysical lands multiple Seismic Deals in Tanzania and Puntland

ION Geophysical has announced that it has been awarded contracts to acquire 4,058 km of 2D seismic, gravity and magnetic data over offshore Blocks 4/1B and 4/1C in the Rovuma Delta region in Tanzania and 8,000 kms of seismic data covering the entire Somalia Puntland offshore margin both planned to be acquired in fourth quarter 2015.

In Tanzania the contract follows an international tender by the Tanzanian Petroleum Development Corporation (TPDC) , number PA/031/2014-15/W/06, for a 2D multi-client survey, to be known as ‘TPDC Phase I 2015′.

According to Director of TPDC Dr James Mataragio the commencement of the program an important step for TPDC, as a National Oil Company, to begin fully focusing on exploration, development and production.

“We are very excited on the commencement of this program, which is part of a broader campaign aimed at adding value to all of TPDC assets, both onshore and offshore. This survey and three other surveys carried onshore are 100% funded by TPDC,” says Dr Mataragio.

Blocks 4/1B and 4/1C are 100% owned and operated by TPDC, and this new seismic data will be used to assist TPDC with a competitive farmout process, details of which will be announced at a later date.’

“ION is delighted to have been awarded this contract, which represents a further phase of seismic acquisition, processing and interpretation services to be provided by ION in support of the government’s hydrocarbon exploration strategy,” commented Joe Gagliardi, Senior Vice President of ION’s Ventures group.

In Puntand the regional 2D multi-client survey, known as PuntlandSPAN, is being conducted to support a future license round initiative and to assist the E&P industry in gaining a better understanding of the architecture of the sedimentary basin and the hydrocarbon potential of this unexplored offshore margin.

Meanwhile Puntland Petroleum Minerals Agency (PPMA) will also demarcate its offshore territory into 25 exploration blocks covering 180,000 sq kms of the Somalia Puntland seaboard.

In total, there are seven Blocks in the Gulf of Aden and 18 Blocks in the Indian Ocean that have been defined. Block sizes range from 5,000 sq kms in the inshore area to 25,000 sq kms in the deeper water.

“The creation of the Block scheme is an important milestone in the development of oil and gas exploration within the jurisdiction of the autonomous State of Puntland. The PPMA is pleased to announce the availability of these blocks and looks forward to engaging with the industry to discuss their plans for the region,” says Dr. Issa Farah, the Director of the PPMA.

ION adds that the acquisition of the PuntlandSPAN data will provide valuable insight into the petroleum prospectivity of the region.