Home Economy NOCAL Embarks On ‘Secret Oil Project’ …Partners With TGS On “Significant” New Seismic Data Reprocessing

NOCAL Embarks On ‘Secret Oil Project’ …Partners With TGS On “Significant” New Seismic Data Reprocessing

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OSLO, NORWAY: Latest reports by World Oil And OFFSHORE online publications, indicate that an American hydrocarbon data specialist — TGS is teaming up with the National Oil Company of Liberia (NOCAL), to reprocess 2D and 3D seismic data, covering two prospective offshore basins.

The project involves integrating legacy datasets to create a unified velocity model in depth, using imaging algorithms to deliver the final migrated seismic data.

The reprocessed products should support exploration, TGS added, by providing continuous seismic attributes of higher confidence at target levels throughout the margin.

David Hajovsky, Executive Vice President of Global Multi-client at TGS, is quoted in the reports as saying the new data would be “essential in promoting future licensing rounds offshore Liberia under a direct negotiation approach.

“It also allows E&P companies to further evaluate exploration opportunities in an underexplored but proven petroleum system adjacent to prolific hydrocarbon provinces.”

He adds: “This high-quality 2D seismic data will be essential in promoting future licensing rounds offshore Liberia under a direct negotiation approach.

According to reports, recently, the company finished the first phase of reprocessing about 12,097 km of 2D legacy offshore seismic data to improve subsurface clarity, and the results are available for licensing.

The second phase, now underway, will reprocess an additional 12,675-line km over the Liberia and Harper basins, bringing the total to more than 24,700 km.

In addition, TGS plans to reprocess 15,616 sq. km of legacy 3D seismic data in the Liberia basin.
TGS, formerly TGS NOPEC Geophysical Company ASA, is an energy data and analytics company.

It gathers, interprets, and markets seismic and geophysical data regarding subsurface terrains worldwide in order to evaluate oil and gas formations for drilling operations.

TGS is listed on the Oslo Stock Exchange, and was founded by a 1998 merger of TGS (Tomlinson Geophysical Services Inc.), Calibre Geophysical Co. Inc (founded in 1981), and NOPEC (Norwegian Petroleum Exploration Consultants) International ASA founded in 1981, with financial headquarters in Oslo, Norway and operational headquarters in Houston, Texas.

In recent times, the National Oil Company of Liberia (NOCAL) activities during the administration of former President Ellen Johnson-Sirleaf were allegedly marred by corruption and abuse by authorities for the State-owned entity.

Reports had it that NOCAL leadership, under the supervision of Robert Alvin Sirleaf, son of Madam former President could not account for over US$50 million.

Today, NOCAL is back under President Joseph Nyuma Boakai administration, and starting another oil project with secrecy and apprehension, a source at NOCAL hinted this paper.

The National Oil Company of Liberia (NOCAL) was established in April 2000 by an Act of the National Legislature.

NOCAL was created to represent the strategic interests of Liberia in the exploration of liquid and gaseous hydrocarbon deposits and reserves.

The company holds all of the country’s rights, titles, and interests in liquid and gaseous deposits and reserves, whether potential, proven, or actual, to facilitate the development of the oil and gas industry in Liberia.

Meanwhile, the NOCAL Act was amended and restated in 2014, establishing the Liberia Petroleum Regulatory Authority (LPRA) as the regulator of the oil and gas industry in Liberia.

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