Seismic Survey Launch and Scope

TGS has initiated a multi-client 3D seismic survey in the northern part of Brazil's Pelotas basin. This first phase of the Pelotas Norte survey will cover a vast area of approximately 14,800 square kilometres. The survey area encompasses 21 exploration blocks, with the majority located in un-held acreage that is anticipated to be offered in future licensing rounds.

Exploration Context and Industry Activity

The launch occurs amid increasing exploration activity in the region. Petrobras, which secured new acreage in the Pelotas basin in a December 2023 bid round, has outlined plans to drill 14 exploration wells across southeast Brazilian basins by 2030, including in Pelotas. This reflects a broader trend of major oil companies expanding their presence and committing exploration investments to the area.

Survey Significance and Operations

The Pelotas Norte Phase I survey represents a major expansion of TGS's seismic data coverage in the basin. The operation is being conducted using the seismic vessel Ramform Titan. This vessel is supported by a fleet of three other ships: the Ocean Mermaid, C Itajai, and DRS Ipanema.