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Spectrum starts Argentina shoot

Debut project to gather seismic data in deep-water play for prospective acreage licensing

Spectrum has kicked off a multi-client 2D seismic survey in a frontier deep-water play off Argentina, marking the Oslo-listed player’s first project in the South American country.

A total of 35,000 line kilometres of seismic data will be acquired in the shoot over an area covering 435,000 square kilometres that is being carried out in collaboration with BGP Marine and is supported by industry funding.

State-owned oil company YPF is also co-operating with Spectrum on the survey, which has been authorised by the Energy & Minerals Ministry.

Spectrum said the survey will provide “the first ever detailed seismic grid over this under-explored frontier area of Argentina” and will allow for basin-wide studies of the area, as well as yielding data for upcoming licensing rounds.

Survey data will be made available to the industry from early in the fourth quarter of this year, it said in a statement.

Executive vice president for multi-client Americas, Richie Miller, said: There has been no deep-water exploration in Argentina and this survey will allow the industry to get a look at a frontier area for the first time with modern long offset high-fidelity data.”

He claimed there was potential for a billion-barrel discovery off Argentina, which would put the country in the same league as the likes of neighbour Brazil, as well as West African countries such as Angola across the Atlantic.