Echo Energy signs contract for 3D seismic acquisition in Argentina

Echo Energy has awarded a contract to UGA SEISMIC to compile a 3D map of several leads across assets in Argentina.

Compañía General de Combustibles (CGC) operates the assets in a joint venture with Echo.

The contract will see the acquisition of a total of 1,960km² 3D seismic across Echo’s assets, including Tapi Aike, Fraccíon C, and Fraccíon D.

Under the contract, UGA will begin the programme at Tapi Aike in November this year.

The acquisition programme will then move to Fraccíon C and Fraccíon D and is expected to be completed in the second quarter of next year.

Echo Energy CEO Fiona MacAulay said: “We are very pleased to have been able to finalise the contract award for seismic acquisition with UGA Seismic, a renowned Argentinian operator and part of the South American Seismic group of companies.

“The negotiation of the competitively priced contract has provided us with significant cost savings against our originally forecast budget and means that we will be able to shoot the entire committed seismic in one of our most exciting licence areas over the next few months.”

Each of the 41 leads already identified at Tapi Aike is estimated to contain gross prospective resources as much as 600Bcf.

In addition, the total aggregated unrisked gas originally in place for the asset is estimated to be more than 22Tcf in the ‘high case’.

Tapi Aike has been previously subjected to 2D seismic assessment and at least three independent exploration plays have been identified within the licence.

The new 3D seismic acquisition will cover around 1,200km² to derisk the drilling of four prospective exploration wells.