Introduction to the Megabar Extension Phase I Project
Viridien, a leader in digital and Earth data technologies, alongside its partner TGS, known for its prowess in energy data intelligence, has initiated an exciting project in the Barreirinhas Basin. This ambitious endeavor, titled the Megabar Extension Phase I survey, encompasses an extensive area of 5,300 square kilometers in offshore Northern Brazil. The survey aims to provide cutting-edge data that will enhance exploration efforts in this resource-rich region.
Exploration Potential in the Barreirinhas Basin
The Barreirinhas Basin is a notable area that has demonstrated significant geological promise, especially considering the successful discoveries in the nearby Guyana and Suriname basins. These regions showcase impressive geological formations that make them ideal for exploration. The recent interest from international oil companies (IOCs) in this area, highlighted by Brazil's latest licensing initiatives, signals a growing recognition of its potential. The Megabar Extension Phase I will focus on areas without existing 3D seismic data, allowing for unprecedented insights into the subsurface geology.
Advanced Acquisition Techniques
TGS plans to utilize the state-of-the-art streamer vessel, Ramform Tethys, which is specially designed for high-resolution data capture. With its proprietary GeoStreamer technology, TGS aims to gather high-quality 3D seismic data that will form the basis for the detailed geological analysis necessary for informed exploration.
Imaging Technologies by Viridien
Viridien’s expertise in subsurface imaging will play a crucial role in this project. Utilizing advanced time-lag full-waveform inversion (TL-FWI) and reverse time migration (RTM) imaging techniques, their team of experts will deliver critical geological insights that aid in play evaluation and exploration de-risking. Initial imaging products are projected for release in 2026, followed by final data availability in 2027.
Statements from Leadership
Kristian Johansen, CEO of TGS, emphasized the company's commitment to supporting exploration activities in Brazil. His remarks highlight the similarities between the geology of the Barreirinhas Basin and that of successful discoveries in neighboring areas, underlining the significance of this project for future exploration endeavors.
Sophie Zurquiyah, CEO of Viridien, echoed this enthusiasm, expressing how the Megabar Extension survey aligns with the company’s mission to pave the way for new exploration opportunities. She noted that the project will grant clients access to innovative seismic data, enhancing their ability to make strategic decisions in this evolving landscape.
The Future of Exploration in Brazil
This survey marks an important milestone in the energy sector, as both Viridien and TGS are dedicated to redefining the landscape of exploration in Brazil. By leveraging their innovative technologies and extensive experience, they are well-equipped to unlock the potential of the Barreirinhas Basin. The insights gained from this initiative are expected to propel the energy industry forward, facilitating responsible exploration and development of natural resources.
About Viridien
Viridien stands at the forefront of advanced technology and Earth data, dedicated to innovating solutions for a sustainable future. With a workforce of approximately 3,200 employees worldwide and listed under the ticker VIRI on the Euronext Paris SA, Viridien combines scientific ingenuity with industry expertise to tackle complex challenges in the resource sector.
Contact Information
Investor Relations
Alexandre Leroy
Tel: +33 6 85 18 44 31
Email: ir@viridengroup.com
Media Relations
Sara Pink-Zerling
Tel: +33 6 37 57 95 44
Email: media.relations@viridiengroup.com
Frequently Asked Questions
What is the Megabar Extension Phase I survey?
The Megabar Extension Phase I survey is a multi-client 3D seismic survey initiated by Viridien and TGS, focused on the Barreirinhas Basin in Brazil.
What technologies are being used for the survey?
The project employs advanced seismic data acquisition techniques utilizing the GeoStreamer technology, along with imaging methods such as TL-FWI and RTM provided by Viridien.
Why is the Barreirinhas Basin significant?
The Barreirinhas Basin is positioned in a region with proven petroleum systems and has shown geological similarities to successful discoveries in adjacent basins, making it a prime target for exploration.
How will the survey benefit clients?
Clients will gain access to high-resolution seismic data that enhances their ability to identify exploration opportunities, enabling more informed decision-making in upcoming bid rounds.
What is the timeline for the project?
The acquisition is set to begin shortly and aims to conclude by late November, with initial imaging products expected in 2026 and final data by 2027.
