TGS announced the commencement of a multi-client 3D seismic project in the Penyu Basin, offshore Peninsular Malaysia. In partnership with Malaysia Petroleum Management (MPM), PETRONAS, the custodian of petroleum resources in Malaysia, this project aims to provide insights on the exploration opportunities in a broader play fairway and to assess the carbon storage potential across Penyu Basin area. The acquisition of this new seismic data will enable clients to effectively conduct evaluation on the exploration and carbon storage potential for the upcoming Malaysia Bid Round.

The Ramform Sovereign vessel was mobilized to the acquisition area in March 2024 and the area coverage is approximately 7,800 square kilometers. Acquisition completion is anticipated in July 2024, and processing completion is projected for June 2025.