Oslo-listed seismic data specialist TGS, in a joint venture with SLB, has announced the Pelotas Sul Phase 1 multi-client 3D seismic survey in the Pelotas Basin offshore southern Brazil, according to a company release reported by Splash247. The survey covers approximately 13,500 sq km and mobilised the vessel Ramform Tethys, with data acquisition expected to be completed in the early third quarter of 2026.
Survey Specifications and Partners
The Pelotas Sul Phase 1 survey is a multi-client program undertaken in a joint venture between TGS and SLB. The area covered includes a balanced mix of held and open acreage, providing opportunities for both near‑term evaluation and additional sales related to future licensing rounds. Key details are summarised below:
| Parameter | Detail |
|---|---|
| Survey name | Pelotas Sul Phase 1 |
| Location | Pelotas Basin, offshore southern Brazil |
| Area | ~13,500 sq km |
| Seismic vessel | Ramform Tethys |
| Partners | TGS (Oslo-listed), SLB |
| Mobilisation | Completed |
| Expected data acquisition completion | Early Q3 2026 |
Strategic Context in the Pelotas Basin
The Pelotas Basin has seen growing interest in recent years, supported by extensive geologic analogues, including successful exploration results along the conjugate margin, Splash247 reported. The area features a diverse range of play concepts, including turbidite systems, deepwater channels, and stratigraphic and structural traps that remain underexplored.
TGS previously announced a separate survey in the northern part of the basin. Kristian Johansen, CEO of TGS, stated: “We have earlier announced Pelotas Norte, in the Northern part of the Pelotas Basin. We are very pleased to announce Pelotas Sul and support our customers as they evaluate new exploration opportunities in the southern part of the Pelotas Basin.”
Implications for Commodity Markets
While no direct price movements or supply disruptions are reported in the source, the expansion of seismic data coverage in the Pelotas Basin signals continued investment in exploration for potential oil and gas reserves offshore Brazil. For commodity traders and analysts, such surveys often precede licensing rounds and drilling campaigns that can affect future supply expectations. The Ramform Tethys vessel, owned by PGS (though not explicitly stated in source, the image caption notes the vessel type), is a high-capacity 3D seismic vessel capable of acquiring large volumes of data.
The Pelotas Basin remains a frontier area for exploration, and the joint venture between TGS and SLB provides both companies with a strategic position ahead of anticipated interest from oil majors. The completion of data acquisition by early Q3 2026 will allow time for processing and interpretation, potentially making data available for future bid rounds.
For the target audience of commodity market professionals, this development underscores the ongoing effort to de-risk exploration in underexplored basins, which could eventually contribute to non-OPEC oil supply growth. However, no specific production or reserve estimates are provided in the source.
The Pelotas Sul Phase 1 survey includes a balanced mix of held and open acreage, providing opportunities for both near‑term evaluation and additional sales related to future licensing rounds. — TGS announcement via Splash247
Sources:
