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SPECTRUM ASA

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Spectrum : New Brazil Potiguar Basin Multi-Client 3D Survey

12/10/2018 | 11:56am EDT

[Attachment] Spectrum is commencing a large 3D seismic survey in the Potiguar basin offshore the Equatorial Margins of Brazil. This survey comprises 10,700 square km covering blocks that were recently awarded in the 15th license round and open acreage blocks scheduled for the 17th Round in 2020.

The Potiguar survey is supported by industry funding. Spectrum is the sole operator of the project.

The survey is being acquired with a twelve cable long offset configuration in continuous recording mode. Seismic acquisition parameters are optimized for broadband processing which will assist in the high definition mapping of prospects and drilling targets. First products will be available in Q3 of 2019.

'The Potiguar 3D survey is adding to Spectrum portfolio of projects in Brazil and it is in line with our growth strategy to place 3D projects based on extensive knowledge from our 2D database. Brazil is a core area for oil companies ranked as the largest oil producer in Latin America with one of the most promising oil reserves in the world. Spectrum will continue to work with oil companies and the Brazilian government to provide high quality data ahead of future license rounds,' said Rune Eng, CEO of Spectrum.

Disclaimer

Spectrum ASA published this content on 10 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 December 2018 16:54:09 UTC


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