Acquisition of Fugro's global multi-client library

Spectrum ASA has entered into an agreement for a US$115.0 million acquisition of Fugro's Multi-Client library.

After the transaction Spectrum will increase its 2D library by 115% in line km and increase its market position within 3D multi-client market.

The new combined Spectrum library will exceed 3.0 million km of 2D Multi-Client seismic data covering all major sedimentary basins worldwide. The company will have stronger positions in Brazil and Norway and have 2D data coverage in almost all oil and gas regions. The acquisition also gives Spectrum an attractive position within 3D Multi-Client data in Australia, Norway and the Netherlands.

CEO of Spectrum, Rune Eng states: "This is a strategic game changer for Spectrum. It significantly strengthens our position both within MC2D and MC3D in key offshore O&G basins with high hydrocarbon prospectivity, regular license rounds and political stability. The Fugro library complements Spectrum's library with minimal overlap and increased scale will yield material synergies."

Adapted from press release by Joseph Green

Published on 02/06/2015

Get your FREE Oilfield Technology magazine »

Get your FREE trial of Hydrocarbon Engineering magazine »

Get your FREE trial of World Pipelines magazine »


Related articles

Fugro awarded Gassco and Statoil contract

Fugro has been awarded the 2015 annual pipeline inspection contract.

Fugro awarded contract by Basrah Gas Company

Fugro has been awarded a contract for one year by Basrah Gas Company for the provision of services in the Basrah province of Southern Iraq.

Spectrum acquires CGGVeritas Multi-Client 2D marine library

Spectrum has acquired the 2D Multi-Client library of CGGVeritas encompassing more than 500,000 km of seismic data. This significant increase in Spectrum’s Multi-Client data library involves a US$ 40 million transaction.

Spectrum announces 3D multi-client merge project offshore Australia

Spectrum ASB, the Australian subsidiary of Spectrum, has released a new large scale 3D multi-client seismic merge dataset, which provides a high resolution overview of the Carnarvon Basin.

Recommend magazines

  Oilfield Technology