Aug 31, 2018 (LBO) – Research vessel BGP Pioneer, sailing under the flag of Panama is to commence seismic data acquisition for exploring Sri Lanka’s prospects for petroleum resources in selected offshore areas of the island.
The vessel is expected to call Colombo Port on Saturday and the operations are scheduled to be commenced ceremonially on Sunday morning.
The seismic survey will acquire 5,000 line kilometers of data in the JS5 and JS6 exploration blocks in the Lanka Basin.
Petroleum Resources Development Ministry signed an agreement with Eastern Echo DMCC, subsidiary of a major oilfield services company Schlumberger, in May to explore oil and gas resources.
The company will collect, market and license petroleum data on “multi-client” basis, enabling several data acquisition projects, including 2D and 3D seismic data.
This agreement acts as an umbrella for the execution of several multi-client based service agreements to carry out seismic data acquisition surveys, advanced data processing, interpretation work or modeling of petroleum systems.
Eastern Echo DMCC expects to invest 50 million dollars for the exploration under this agreement and they will recover it from sales proceeds to multiple investors.