LONDON (ShareCast) - (Sharecast News) - Latin America-focussed upstream oil and gas company Echo Energy announced the completion of the 3D seismic survey across the western cube on its Tapi Aike licence in Argentina on Wednesday, with processing of the data having now commenced.
The AIM-traded firm said equipment was currently being demobilised out of the area by the seismic acquisition contractor UGA Seismic.

It said the timely completion of seismic acquisition at Tapi Aike prior to the end of the first half was a "key operational milestone", and one which ensured that the pathway to drilling Tapi Aike remained on track, with spud currently expected to take place in the fourth quarter.

The company said it was working closely with its Argentinian partner and operator of the Tapi Aike licence, Compañía General de Combustibles (CGC), to drill early in that window now that the seismic acquisition phase was complete.

Seismic data acquired was now being processed by independent processing houses in Buenos Aires, with the processing of the eastern cube data by Wellfield Services nearing completion and the processing of western cube data being undertaken by Seismic Prospect.

"The acquisition and processing of 3D seismic at Tapi Aike builds on the previous interpretation of the large amount of historical 2D data that exists on the block, which is guiding the processing priorities of the new 3D data," the Echo Energy board said in its statement.

"Echo looks forward to updating shareholders in due course, and as appropriate, as it continues to progress towards drilling."

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