Page 13 - AsianOil Week 14 2022

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fans in India and may have received some SOUTHEAST ASIA oil and gas clusters tied regionally for the first
further discussion as India’s President Shri time in modern processed 3D seismic data.
Ram Nath Kovind visited Turkmenistan from TGS initiates peninsular Kristian Johansen, CEO at TGS,
April 1-4. commented: “This is our fifth reprocessing
India has long sought to benefit from Malaysia regional 3D project announced in Asia Pacific in Q1
Turkmenistan’s huge gas reserves, but there 2022, demonstrating the demand for modern
is as yet little clarity on whether the severely seismic reprocessing – data to help address the acute energy supply
delayed Turkmenistan-Afghanistan-Pakistan- challenge in this region. In addition to the
India (TAPI) pipeline project will ever get dataset aims to provide Peninsular Malaysia Regional 3D Seismic
past myriad difficulties—not least the need Reprocessing, TGS, as part of the Sarawak
to obtain security guarantees in Taliban-run enhanced basin insight Multi-Client consortium, is actively acquiring
Afghanistan—to see the light of day. At the 3D seismic data offshore Sarawak and is
same time, Delhi, which six years ago agreed TGS, a global provider of energy data and committed to supporting Petronas and other
to invest $500mn into building and operating intelligence, today announced the start of E&P companies across Malaysia.”
port facilities at Chabahar, Iran’s sole oceanic a new 3D reprocessing project offshore TGS anticipates that the results of this
port, knows that its ambition to use Chabahar Malaysia, the first stage of which will cover a project will encourage renewed exploration
as a hub from which it could distribute its 16,957 square km area, integrating existing 3D interest in the Malay Basin, enabling project
shipped-in exports to Afghanistan, Central seismic data offshore Peninsular Malaysia. expansion with further stages up to a total
Asia and beyond has hit difficulties related to Thirty-six 3D seismic surveys of varying potential project area of over 40,000 square
the ascent of the Taliban in the wake of the vintages covering a key part of the Malay km.
fall of president Ashraf Ghani’s government Basin will be processed through a high- The project is supported by industry
in Kabul last August. The Taliban regime will end comprehensive broadband workflow funding. Final time and depth migrated
almost certainly stay more attuned to the by TGS’ consortium partner DownUnder products are expected during Q2 and Q3
interests of India’s arch-rival Pakistan. Thus, GeoSolutions (DUG) in their Kuala Lumpur 2023, although interim products will be
in his talks with Kovind, Turkmenistan’s processing centre. The workflow, which available earlier.
new president, Serdar Berdimuhamedov, includes FWI, Q-Migration, and Q-Tomo, TGS, April 05, 2022
proposed Turkmenistan-via-Iran as an will create a single contiguous 3D volume and
alternative transit route to Afghanistan-via- represents the only way oil and gas companies
Iran and suggested initiating talks between can access a modern regional scale dataset to EAST ASIA
management at Chabahar and the Turkmen evaluate the Malay Basin.
port of Turkmenbashi on the Caspian Sea. This new dataset will allow for improved China said to eye cheap
Turkmenistan still hopes to find a way to play mapping and structural understanding,
export gas to Europe via a Caspian Sea route, identification of new exploration and CCS Russian LNG
but the idea of it one day shipping gas to India opportunities, and re-valuation of reserve
and other countries via the Indian Ocean estimates in late-life assets. China’s largest importers of liquefied
port of Chabahar cannot be discounted if an This initial phase is part of a multi-year natural gas (LNG) state-owned Sinopec
arrangement can be found with Iran, itself not basin revitalization initiative awarded by and PetroChina are studying the options of
short on ambition to dramatically drive up its PETRONAS. Stage 1 notably includes acreage buying Russian LNG at about a 10% discount,
own gas exports. in the 2022 Malaysia Bid Round, such as the Bloomberg reported citing unnamed sources.
exploration block of PM428 and the Abu Indian oil refineries are already buying
Cluster identified as a late-life asset (LLA) heavily discounted Urals blend oil, as
prime for re-evaluation, and numerous other sanctions for the military invasion of Ukraine

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