Orcadian strikes seismic licensing deal
North Sea-focused Orcadian said June 15 it had struck a seismic licensing deal with energy data company TGS.
Orcadian will gain access to 2,070 km2 of 3D seismic survey data owned by TGS, covering the bulk of its licence areas, revealing the reservoir structures and even the likely fluid type. This will be used to support Orcadian in evaluating nearby open acreage for the UK's forthcoming North Sea licensing round.
In terms of North Sea reserves, Orcadian has 79mn barrels of 2P oil potential at Pilot field, 78mn barrels of 2C resources in the Elke, Narwhal and Blakeney oil discoveries, and 119mn barrels of prospective resources potential across its Western Platform licences.
The agreement covers TGS's Blakeney, Catcher North and Catcher surveys. The latter two survey sets will be reprocessed using the same sequence deployed at Blakeney, to achieve higher quality 3D coverage.