Offshore Brazil: Spectrum to commence new Multi-Client 2D survey in Santos and Campos Basins

HOUSTON, TX, July 22nd 2016 - Spectrum is pleased to announce the commencement of a 15,000 km Multi-Client 2D survey offshore Brazil in the Santos and Campos Basins.

The new acquisition program is an outboard extension of Spectrum's 2012 Santos Campos Phase 1 survey, and will tie other programs in the Santos, Campos and Espirito Santo Basins producing a continuous dataset covering the prolific pre-salt oil fields in these basins.

The survey is being acquired with a 12,000 m 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 Q2 2017.[Attachment]

Richie Miller, EVP Multi-Client North & South America, comments: 'Spectrum has started on our next campaign in Brazil in order to provide new long-offset data over prospective pre-salt basins for an anticipated round in 2017. In light of the Brazilian government's suggestion that it will include blocks outside the pre-salt area in the Santos and Campos Basins, this play continues to provide excitement and opportunities for exploration. This new data will extend coverage over a very lightly explored area of the pre-salt exploration province.'

The survey is acquired in partnership with BGP and is supported with industry funding.

For further information or questions, please contact us.