PGS data covers 21 of 24 areas offered for award in Tranche 2 of the UK 33rd Round, as announced yesterday by the NSTA. The new licenses comprise 74 blocks or part blocks in the West of Shetlands, Northern North Sea and Central North Sea.

The excellent MultiClient data coverage is one reason why the Southern North Sea remains a hotspot for exploration. Reliable data analysis supports assessments of licensing opportunities and enables an accelerated timeline from license award to production. According to NSTA analysis, the average time between licensing and first production is now close to five years, which means that licences awarded this week could be producing before the end of the decade.

"Congratulations to offered awards by the UK North Sea Transition Authority, in the second tranche of oil and gas licensing for this round. Rapid access to high-quality PGS seismic data will allow further assessments to enable the successful companies to fulfill their work programs and bring these new opportunities on stream, with high-quality 3D data coverage across all three areas," says Sonia Peréira, VP Sales Europe at PGS.

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