OSLO, Norway – Spectrum has entered into a cooperation agreement with Schlumberger to acquire 50% ownership in Spectrum's Pelotas multi-client program offshore Brazil.
The program includes the recently acquired Pelotas Phase 1 seismic acquisition, comprising 7,438 km (4,622 mi) of 2D data. Pelotas Phase 2, currently being acquired, consists of up to 12,000 km (7,456 mi) of 2D data and more than 12,000 km of recently reprocessed regional 2D data.
The Pelotas basin is an untapped hydrocarbon province comprising a 280,000-sq km (108,108-sq mi) passive margin on the southeast coast of Brazil, bordering Uruguay to the south. Spectrum and Schlumberger will provide more than 30,000 km (18,641 mi) of data to the industry prior to the anticipated offering of the Pelotas basin in the upcoming Bidding Round 13.