Offshore seismic specialist TGS has been awarded a pair of new contracts for work offshore Brazil.
In partnership with China’s COSL, TGS will mobilise COSL vessel HYSY720 to commence acquisition of the Espirito Santo 3D survey by year-end. The vessel is currently in transit to Brazil and acquisition, covering 1,400 sq km, is expected to be completed by the end of the first quarter 2021.
Together with Chinese firm BGP, TGS plans to commence a 7,000 km 2D survey in the Pelotas Basin during the first quarter of 2021. The survey will utilise BGP vessel BGP Pioneer.
Kristian Johansen, CEO at TGS, commented, “Latin America is one of our key focus areas and despite the challenging market conditions, our clients are continuing to support our projects in this region. Strong, long-term partnerships with our suppliers allow us to share risk and reduce cash investments, which provides a unique opportunity to continue our counter-cyclical investment philosophy.”