Eco Atlantic Oil & Gas and operating partner Tullow Oil have completed a 3D seismic survey at the Orinduik Block in offshore Guyana.
The survey covered an area of around 2,500km² and was conducted by Schlumberger Guyana.
Eco Atlantic co-founder and chief operating officer Colin Kinley said: "I am happy to announce the successful completion of this 3D Survey with essentially no technical down time or weather standby, we have had stable seas throughout the survey and full serviceability from the vessel providing us continuous acquisition of high-resolution data.
"Our next immediate steps are to begin processing the data, which we will do this fall and the parallel interpretation.
"Our goal is to evaluate and de-risk our existing leads to better define the reservoir characteristics and define potential drilling targets."
Eco Atlantic’s subsidiary Eco Atlantic (Guyana) owns 40% working interest in Orinduik, while Tullow holds the remaining 60% interest with the operatorship.
The Orinduik Block is situated adjacent to Exxon's Liza and Payara discoveries, which are estimated to contain around 2.25 billion to 2.75 billion barrels of recoverable oil.
Before conducting the 3D survey, both companies carried out the first phase of exploration along with the evaluation of the existing and regional 2D data.
After studying results of the 2D data, the parties agreed to increase the originally proposed 1,000km² 3D survey to nearly 2,500km² to cover the entire block area.
Eco Atlantic and Tullow will now begin the processing and evaluation of the procured data.