China Oilfield Services Ltd (COSL) has completed a government-led 3D seismic exploration project in the Gorontalo working area offshore Sulawesi, Indonesia. The company acquired nearly 1000 square kilometers of 3D seismic data, finishing the project ahead of schedule despite operational challenges from intensive fishing activities and high equatorial sea temperatures.

Project Objectives and Context

The survey was led by Indonesia's Geological Agency (Badan Geologi) under the Ministry of Energy and Mineral Resources (ESDM). Its results are intended for submission to the ministry to inform the upcoming Indonesia Petroleum Bidding Rounds (IPBR). This initiative supports a broader government strategy to offer up to 75 oil and gas blocks to international investors by the end of 2027, aiming to attract investment and strengthen national energy resilience.

Survey Location and Background

The seismic survey was conducted in Tomini Bay within the Gorontalo basin, identified as a prospective sedimentary basin. The project commenced in December following the arrival of the COSL exploration vessel Hai Yang Shi You 760. Indonesia has 128 sedimentary basins, with current oil and gas production from 20 basins, leaving 108 with exploration potential, including Gorontalo. Notably, a plan by national oil company Pertamina in 2018 included a proposed floating storage and regasification unit in Gorontalo for LNG infrastructure development.

Strategic Implications for COSL

COSL, a subsidiary of China National Offshore Oil Corporation (CNOOC), stated that its local subsidiary, COSL Indo, is expected to enhance its technical capabilities and service levels through this project. The company views the successful completion as a contribution to its overseas market expansion strategy.