Energy data provider TGS and SLB have announced a joint venture three-dimensional seismic survey covering approximately 13,500 square kilometres in the Pelotas Basin offshore southern Brazil.
Named the Pelotas Sul Phase 1, the project targets an area featuring underexplored play concepts such as turbidite systems and deep-water channels.
According to a joint statement released on June 18, the seismic vessel Ramform Tethys mobilised for the survey in December 2025. The partners stated that data acquisition is expected to be completed in the early third quarter of 2026.
TGS Chief Executive Officer Kristian Johansen explained that the project, “will provide valuable subsurface insight and help broaden the understanding of a basin that is gaining considerable client attention.” He noted that the company had previously announced the Pelotas Norte survey in the northern part of the Pelotas Basin.
This current phase consists of a mix of held and open acreage, offering opportunities for near-term evaluation and sales in future licensing rounds.
Supported by extensive geologic analogues, TGS said the basin has seen growing exploration interest following successful results along the conjugate margin.
Under the cooperation agreement, TGS shares project costs and revenues with its partners and recognises these contributions as contract revenues. The company reported that these inflows are expected to be approximately in line with the first quarter of 2026, when $32.5 million was recorded.
