PGS has been selected by Egyptian Natural Gas Holding Company (EGAS) to supply services related to what the two companies dubbed as the largest seismic oil and gas exploration project in the Mediterranean.
The MultiClient Agreement covering Egypt’s Western Mediterranean Sea was signed Wednesday, June 24, 2015 by Egyptian Natural Gas Holding Company (EGAS) and PGS Egypt.
According to the press release, the project is designed to rejuvenate the existing 2D and 3D seismic database, and further develop the knowledge base of this exploration region. A series of new acquisition projects are planned, with new 2D acquisition expected to start towards the end of this year. These will apply new broadband seismic technology, PGS GeoStreamer. PGS is currently discussing the pre-funding of these projects with interested companies.
PGS stated that this project will further its track record in the Eastern Mediterranean region, building on previous collaborations with authorities in Greece, Cyprus and Lebanon, and further evolving its significant Middle East and Mediterranean MultiClient library.
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