Spectrum, OMNIS sign new seismic brokerage agreement in Madagascar

Spectrum and OMNIS in Madagascar have signed an agreement where Spectrum assumes exclusive brokerage rights to the majority of the vintage seismic data located both offshore and onshore Madagascar.

The various datasets total over 69,000 km. The Agreement also grants Spectrum the right to reprocess any of the seismic datasets and to license these to interested oil companies on a Multi-Client basis.

The data complements Spectrum’s existing library in the region which includes 3,626 km of recently-reprocessed Pre-Stack Time Migration (PSTM) data over the Morondava/Majunga basins to the West, 1,440 km of PSTM data over the lle Ste Marie area in the East, and a further 622 km in the South over the Cap Ste Marie.

Madagascar is still considered a frontier hydrocarbon province despite analogues with Kenya and Mozambique. The west of the country has long said to be rich in heavy oil. Following improvements in infrastructure and oil extraction technologies the country is once again becoming an interesting prospect for oil companies.

Spectrum’s regional EVP, Graham Mayhew, believes this data will provide invaluable knowledge to interested oil companies, “Previous interpretation of our reprocessed seismic surveys suggests encouraging prospectivity for the occurrence of hydrocarbons across Madagascar. We believe that through the enhancement of vintage data, particularly in less understood areas such as the Cap St. Marie basin and Ile St. Marie, explorers will be able to take the next step in their goal to take Madagascar into the next phase of oil exploration.”