OilCo is committed to investing in new multiclient geoscience data to unlock the next areas of offshore Newfoundland and Labrador that may contain material prospectivity, ultimately delivering new resources for the benefit of the people of the province. There were several such investments over the 2019 License Round, each of which is highlighted below.
Since 2011, our legacy company (Nalcor Energy-Oil and Gas), in partnership with TGS and Petroleum Geo-Services (PGS), has been carrying out one of the most comprehensive geoscience programs in the world. Over the southeastern Newfoundland region a comprehensive grid of multiclient long-offset broadband 2D data has been collected. This data is available for license from our partner TGS.
In late 2010, partnered with Airbus – Defense and Space, we undertook a regional oil seep mapping and interpretation study. The satellite data acquired during this survey has imaged areas of potential natural seepage in various basins and highlighted potential new regions for oil exploration.
Through our ongoing partnership with Airbus – Defense and Space, we are focusing our efforts on areas covered in the upcoming license rounds. The satellite seeps survey is a multiclient survey and is available to industry from Airbus – Defense and Space.
