Business news for the week of 8 May 2008

By Julie Colley

PGS awarded the industry’s largest HD4D campaign
5 May 2008—Petroleum Geo-Services (PGS) has been awarded by Petroleo Brasileiro a contract to undertake the largest HD4D marine seismic survey campaign in the industry, based on a tendered contract value of US$251 million.

The award comprises five surveys totaling 4945 km and an alternative program of up to an additional 120 days of data acquisition. The Campos, Santos, and Espirito Santo Basin surveys are scheduled to begin in October 2008, using the PGS vessel the Ramform Sovereign. The current estimated contract is valued at $180–200 million.

Landmark introduces Panasas solutions to accelerate seismic-processing application performance
6 May 2008—Landmark has introduced a parallel storage system to process seismic data more quickly. The move comes as the result of a preferred-reseller and strategic-development agreement between Landmark and Panasas.

The capability is needed well-timed because exploration and production companies are consistently acquiring huge volumes of new seismic data and also reanalyzing their existing data sets. As a result, they are becoming increasingly reliant on their high-performance computing infrastructures, especially for high input/output jobs.

Barco brings a collaboration approach for all visualization systems
7 May 2008—Barco has launched its XDS Control Center software. Compatible with Barco projectors, display systems, and flat panels, it creates a widescreen Windows desktop that users can control all sources simultaneously with mouse and keyboard.

EMGS receives industry prefunding for a large multiclient EM survey in the Barents Sea
8 May 2008—Electromagnetic Geoservices announced that it has received industry prefunding to begin an extensive multiclient electromagnetic (EM) scanning survey in the Barents Sea. At more than 3000 km², the survey represents an advance in the adoption of EM scanning technology.

SCAN Geophysical signs LOI from Petrobras for 8500 km 2D survey off Portugal
8 May 2008—SCAN Geophysical (SCAN) has signed a Letter of Intent from Petrobras International Braspetro for an 8500 km-high technology, long-offset 2D survey off Portugal. SCAN's M/V Geo Searcher, currently working in the Mediterranean, is scheduled to commence operations by June 2008.