Additional planned phases could increase the size of the program significantly by the end of 2009. This substantial program covers a number of blocks recently awarded by the National Oil Company of Liberia (“NOCAL”) and has achieved a high level of pre-funding. The first phase of acquisition commenced in September. A second vessel will be added in November for the second phase and will continue through most of 2009.
TGS first acquired regional multi-client 2D data in Liberia in 2001. Since that time Liberia has held a number of successful bid rounds. Companies now operating or sharing in offshore contracts in Liberia now include Anadarko Liberia Company, Woodside Petroleum, Repsol, Oranto, Broadway Consolidated and European Hydrocarbons.
“It has been exciting to participate in the growth of Liberia’s offshore oil and gas exploration industry. TGS’ ongoing multi-client data investments in Liberia reflect our confidence in Liberia’s offshore potential as well as our commitment to further our relationship with NOCAL” said David Hicks, VP AMEAP.
The Liberia data will processed in TGS centers in London and in Houston. The first data deliveries are expected to be in Q2 of 2009.