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Tuesday, 14 November 2017

Spectrum ASA: Spectrum Continues to Add Data to Their Argentina Offshore Campaign with the Commencement of the Austral Malvinas 2D Project

Spectrum ASA    

Published: 09:00 CET 14-11-2017 /GlobeNewswire /Source: Spectrum ASA / : SPU /ISIN: NO0010429145

Spectrum ASA: Spectrum Continues to Add Data to Their Argentina Offshore Campaign with the Commencement of the Austral Malvinas 2D Project

Spectrum is pleased to announce the commencement of its Multi-Client 2D seismic survey covering the Austral and Malvinas basins offshore southern Argentina through the authorization of the Ministry of Energy and Minerals. The expected survey size is around 14,500 km but may vary based on input from our participating clients.

Data is being acquired with a 12,000 meter streamer with continuous recording to enable extended recording lengths and high fold data to enable full interpretation from Moho to water bottom. The data will be processed with PSTM, PSDM, FWI and Broadband products with first deliveries in early Q2 2017.

The new data will be utilized to assist the Ministry in placement and design of parcels for the future license rounds offshore Argentina.

Richie Miller, EVP Multi-Client Americas, comments, "The strong support and interest Spectrum generated for the ongoing Argentine Deepwater program allowed us to continue to build on our Argentinian multi-year program with the addition of the Austral Malvinas program. The Industry appreciates the need for new, modern, long offset broadband data to help them evaluate the full potential of the area prior to the expected license round in H2 2018. Spectrum expects to collect, process and deliver over 50,000 kilometers of data to industry in time for these rounds.

This survey will be carried out in partnership with BGP Marine and is supported by Industry funding.

 

For further information, please contact:

Jan Schoolmeesters, COO
Email: jan.schoolmeesters@spectrumgeo.com
Tel: +47 91 77 79 61

Richie Miller, EVP Multi-Client Americas
Email: richie.miller@spectrumgeo.com
Tel: +1 281 647 0602

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.




This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Spectrum ASA, Oslo 0278, NORGE
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