Seismic acquisition has now commenced on the major new Polarcus Capreolus 3D multi-client project over the Phoenix area that contains the recent Phoenix South-1 oil discovery within the Roebuck Basin, offshore Western Australia. The survey is utilizing two high performance 12-streamer Polarcus vessels, Polarcus Amani and Polarcus Asima, operating in tandem in order to maximize production.
The Capreolus 3D multi-client project comprises a substantial 15,000 sq. km and has been designed by Polarcus' in-house experts in collaboration with the project underwriters to provide a basin-wide high quality broadband 3D seismic dataset over and adjacent to the Phoenix South-1 oil discovery announced in 2014. The basin is one of the few remaining underexplored parts of Australia's North West Shelf and considered to have the potential to become a major new oil province.
The data acquisition phase is estimated at approximately eight vessel months (four calendar months), with the resultant data being processed through a pre-stack depth migration routine by DownUnder GeoSolutions in Perth.
Final data products are expected to be available within Q2 2016.
This project forms part of the Company's existing backlog that has been previously announced through the Oslo Stock Exchange.