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According to the National, the survey, due to be completed in June, will cover 12,000 hectares in the Gulf of Papua not previously covered by seismic data.
Minister for Energy and Petroleum Sir Moi Avei told the National that results from the survey would be marketed worldwide.
“The benefit of non-exclusive seismic surveys is that the contractors take the risk and thereby fast-track the exploration cycle by initially providing a larger seismic data coverage worldwide,” Avei said.
Avei met with company executives in Port Moresby earlier this week.
Fugro-Geoteam is a Norwegian-based subsidiary of Dutch-based Fugro Group. The company operates a modern fleet of seismic vessels and is active in 2D, 3D and 4D marine seismic data acquisition and processing.
