Geoex MCG, a global subsurface data provider, has announced the launch of industry engagement to support a major new offshore 2D seismic acquisition program in Venezuela, as market re-entry accelerates.
Geoex MCG is now focused on working with the industry to ensure strong strategic and technical alignment ahead of its execution. As the only seismic data provider with a multi-client contract in place with the Ministry of Hydrocarbons of Venezuela (MINHID), the Company is uniquely positioned to advance new data acquisition in the country.
'Geoex MCG invites exploration leaders to engage with us directly and share their priorities, technical requirements, and strategic objectives for Venezuela,' said Robert Sorley, President, Geoex MCG, 'Their input will help refine a data acquisition program that delivers real value for basin-wide evaluations.'
The initiative builds on the Company’s existing agreement with MINHID and follows recently released reprocessed 2D seismic data (over 18,000 km). The new acquisition comprises approximately ~52,000 km of new 2D seismic covering Venezuela’s full offshore domain, and paves the way for the next phase of exploration in the country.
Interested companies are invited to engage directly with Geoex MCG to explore participation opportunities.
Supporting Market Re-Entry Through a Basin-Wide Program
The planned acquisition is intended to deliver full continuity across offshore Venezuela, extending from the western Gulf of Venezuela through the central Caribbean basins and into the eastern Plataforma Deltana (Delta Amacuro). It combines regional understanding with a tight grid, ideal for better delineating known local structures and identifying new opportunities in areas with limited data coverage.
The Company will also leverage experience from its wider Caribbean portfolio, notably the adjacent Caribbean Atlantic Margin Deep Imaging (CAMDI) dataset, to produce high quality imaging products and consistent subsurface framework.
This integrated approach is designed to provide exploration teams with the right tools to evaluate petroleum systems at a basin scale, compare producing areas with undrilled prospects, and refine exploration strategies. This supports reduced exploration risk and more efficient progression toward final investment decisions (FID), as offshore Venezuela enters a renewed window of exploration opportunity.
Invitation to Influence Program Design
Through this engagement process, Geoex MCG is offering exploration companies a direct opportunity to influence the configuration of the upcoming acquisition, including:
- Areas of interest
- Survey extent and coverage priorities
- Key acquisition and processing parameters
This collaborative approach allows industry participants to help shape how new seismic data is acquired in a previously underexplored yet highly prospective offshore region, ensuring the resulting dataset is aligned with real exploration needs and strategic objectives.
Executing on the Country’s Extensive Exploration Program
The new 2D seismic project is an integral component of a broader campaign aimed at re-evaluating the country’s extensive hydrocarbon potential and in particular increase the certification of its gas reserves.
Geoex MCG is now preparing to execute the acquisition phase of the multi-phase program defined by MINHID:
- Up to 51,683 km of New Detailed 2D Seismic Data
- Up to 38,396 km of Reprocessed 2D Seismic Data
- Up to 4,565 km2 of Reprocessed 3D Seismic Data
- Extended Geochemical analysis
For press inquiries and executive interviews, please contact:
Renata Michlova, Senior Brand & Communications Manager
renata.michlova@geoexmcg.com
About Geoex MCG
Geoex MCG is a global provider of high-quality geophysical data and services for the energy industry. The company specializes in identifying prospective areas for natural resource exploration and designing geoscientific surveys. Its multiclient projects deliver data and solutions for oil and gas exploration, carbon capture and storage (CCUS), natural hydrogen, and other emerging energy opportunities. www.geoexmcg.com
Source: Geoex MCG
