The Newfoundland & Labrador (NL) government in Canada has provoked the anger of the province’s upstream sector by refusing to allocate funds towards offshore seismic campaigns for 2022, backtracking on a pledge made in writing last year.

Over the last decade, seismic players PGS and TGS have worked with the provincial authorities to gather new data across existing and new basins offshore N&L.

Big benefits

The resulting data has underpinned acreage offerings that have led to international companies committing to invest over C$4 billion (US$3.14