PNG contract just start of Terrex’s international push

Terrex Seismic’s Vibroseis vehicles are headed to PNG

​The winning of a 2D seismic contract in Papua New Guinea, announced last week by Terrex Seismic, is just the start of a new international push.

Terrex is in the process of sending three Vibroseis vehicles, several containers of equipment and a team of Australian staff to the Western Province to complete a 2D Seismic Survey in Advance International Exploration’s natural gas exploration play.

Terrex has just started to re-focus on offshore activities after concentrating on its Australian operations for about 15 years. A number of factors were playing into Terrex’s expansion plans, including:

*Operational efficiencies gained from an expanded fleet being cost-effective and highly productive for offshore companies.

*Acceptance of the value of seismic work on resourcing plays wider than the traditional oil and gas. There is an increasing appreciation within the mining industry of the significant value seismic acquisition brings to resource definition, structural understanding, and mine planning. As the sector continues to seek deeper and more complex ore bodies, seismic is increasingly being recognised as a critical tool for reducing geological uncertainty and improving investment confidence.

*Changes in Terrex management over the past few months has resulted in a highly-experienced team with more than 100 years’ of international experience.

It means now is the ideal time to expand the footprint, Terrex chief executive Rick Dunlop says.

‘‘A surge in our Australian work in recent years meant it was logical to concentrate here, but our increased operational efficiency, offshore contacts and increased use of seismic in different resourcing plays means it is too good an opportunity to pass up.’’

Terrex will increase its engagement with potential offshore clients, mainly in the Asia-Pacific region but also further afield.

This has begun through more incoming queries, word of mouth, attendance at international conferences and the like, and hosting foreign companies in Australia.
Recently, Terrex leaders hosted a session with some of the top brass from Vietnam’s biggest mining SOE, Vinacomin.

Arranged through Austrade and hosted at the University of Queensland by the UQ Global Partnerships team, up to a dozen Vinacomin staff were shown insights into the value of seismic in mining.
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​‘‘It’s about engaging with like-minded companies and seeing what happens down the track,’’ Mr Dunlop said. ‘‘Our latest moves well and truly open up the pipeline.’’