Annual Report 2011 - PGS

MultiClient
The MultiClient data library comprises
approximately 437,000 square kilometers
of 3D data and 308,300 line kilometers of
recent 2D seismic. As an additional product,
PGS has integrated third-party data to build
MegaSurveys with a total coverage of 540,000
square kilometers. MegaSurveys integrate
multiple surveys into a single contiguous
dataset, which enables explorationists to assess
local hydrocarbon prospects in a basin-wide
geological framework.
GeoStreamer is the preferred streamer for
MultiClient acquisition. Pre-funding participants
benefit from the greater imaging quality and
survey efficiency delivered by GeoStreamer
and the new data is applied by PGS to upgrade
the contents of the MultiClient data library.
Geographic Diversity
PGS is active in most of the world’s offshore
petroleum-producing basins. Although the
North Sea is a mature region, it remains rich
in opportunity, as demonstrated by a series of
recent discoveries. PGS is strongly committed
to this region and will continue its GeoStreamer
MultiClient campaign in 2012. The North Sea
GeoStreamer MultiClient campaign began in
2009; by the end of 2011, approximately 25,000
square kilometers of MultiClient GeoStreamer
3D and approximately 18,000 line-kilometers
of 2D GeoStreamer had been acquired. PGS’
North Sea GeoStreamer MultiClient library
contains data sets of substantially higher
quality than data gathered previously by
the industry using conventional streamers.
Accordingly, oil companies and governmental
bodies have shown considerable interest in and
support for this library.
One key area for PGS’ MultiClient activities
in 2012 is Angola. The reason for current high
interest there among oil companies can be
found in Brazilian oil province geology. About
120 million years ago, the continents of Africa
and South America were in the process of
separation and the geologies found offshore
Angola largely correspond to the geology
found in some of the basins offshore Brazil. In
late 2011, PGS commenced a large MultiClient
project offshore Angola. (See the Angola
business case on page 25 for further details.)
Gulf of Mexico used to be the largest
MultiClient market in the world pre-Macondo.
Now the Gulf of Mexico is gradually returning
to normality. Since 2006 and 2007, the Gulf of
Mexico has served as a high-end technology
proving ground through the Wide-Azimuth
surveys and the processing technologies
developed to support and refine the acquisition
technique. Large discoveries in the Gulf of
Mexico fueled interest in the basin. PGS
acquisition of Crystal III Wide-Azimuth survey
was completed in the spring of 2010, with
the processing being completed in the fall of
2011, just in time for the western lease sale
in December 2011. The next central Gulf of
Mexico lease sale is now confirmed for June
20, 2012. Crystal IV, PGS next Wide- Azimuth
GeoStreamer is the
preferred streamer for
MultiClient acquisition
MultiClient Revenues
In millions of US dollars
600
500
400
300
200
100
0
2008 2009 2010 2011
PGS Annual Report 2011 23