MCG completes acquisition of Barbados MC2D

The first phase of the seismic survey was acquired in 2012 and comprised of 3,856 km. The second phase has added another 3,020 km and was completed on 17 April 2013. The 6,876 km survey has been recently funded by the oil industry.

The already available dataset from phase one shows numerous structural closures and seismic amplitudes. Processed data from the second phase will be available in September 2013.

MCG has in cooperation with the Government of Barbados, acquired a modern long offset 2D seismic in the most prolific parts of the Barbados Offshore License Area. The survey covers the Barbados Through, the Tobago Basin and crosses the Barbados Ridge between the basins. The survey is designed to provide oil companies with an insight to the largely untested exploration potential offshore Barbados.

The result from the new seismic survey and existing wells in Barbados, suggest that there is a working petroleum system in place, comprising a source rock that is equivalent to that of the mature late Cretaceous La Luna Formation; Miocene, Oligocene and Eocene sandstone reservoirs; and multiple structural 4-way closures.

Please see the following announcement for more details.