Business news for the week of 14 June 2010 News section front
Past news briefs
Seismic crew survey reports TGS commences 8th season of long offset acquisition in cooperation with Fugro 14 June 2010—TGS announced another season of acquisition of long-offset data on the Norwegian Continental Shelf (NCS) in cooperation with Fugro. The data to be collected (shown on the attached map) include approximately 15,000 km for the North Sea Renaissance (NSR) survey in Holland, Norway, and UK, approximately 10,000 km for the Mid-Norway Regional (MNR) survey in the Norwegian Sea and approximately 15,000 km for the Norwegian Barents Sea Regional (NBR) survey in the Barents Sea.
TGS will dedicate two vessels, Bergen Surveyor and Northern Genesis, during the summer season to acquire the NSR project. The data acquired by these vessels will be processed at TGS' imaging center in Bedford, England. Fugro will also contribute two vessels, Geo Arctic, and Akademik Lazarev, to acquire the MNR and NBR data, respectively. Fugro will process the data acquired on those two projects. With the 2010 acquisition program, TGS' total long-offset grid on the Norwegian Continental Shelf (NCS) increases to approximately 260,000 km. Data from the three surveys will be available for customers from Q4-2010. CGGVeritas announces launch of new BroadSeis solution for high-resolution marine seismic 15 June 2010—CGGVeritas launched BroadSeis, a new integrated service for high-resolution marine seismic. BroadSeis is a solution based on the deployment of specific configurations of Sentinel solid streamers combined with a new patented imaging technology designed to offer oil companies broadband seismic data, resulting in superior subsurface images.
BroadSeis capitalizes on the Sercel Sentinel solid streamer. Sentinel streamers are designed to record data while being towed at greater depths and are quieter than other streamers. When these Sentinel advantages are combined with innovative specific geometry configurations and our recently patented imaging technology, BroadSeis delivers a very high-quality signal recorded over a wide-frequency bandwidth. Spectraseis launches new borehole tool for LF and microseismic surveys 15 June 2010—Spectraseis launched a high-tech new borehole receiver array for low frequency and microseismic measurements. The new 4.4" OD (outside diameter) tool, which features six levels of high-sensitivity active receivers, has been designed for multiple downhole applications, including LF seismic surveys and microseismic monitoring projects. It is designed to be safely deployed and recovered on a tubing string in casing as small as 5.5" OD and in wells with temperatures of up to 160° F (70° C). Scheduled for delivery in October 2010, the tool has been developed by Spectraseis through the integration of a group of scientists and specialist engineering firms. The first deployment is planned shortly afterwards. Petris announces agreement with OpenSpirit Corporation 15 June 2010—Petris has joined the OpenSpirit Business Partner program to deliver data management, interoperability and workflow solutions. Adding the OpenSpirit solution to the Petris library of adaptors provides Petris customers with the broadest range of adaptors for workflow integration in upstream E&P. OpenSpirit customers will now have access to the advanced data management capabilities provided by PetrisWINDS Enterprise (PWE). Total E&P spending to rise 8% in 2010
15 June 2010—Spending on exploration and production (E&P), excluding acquisitions, is expected to rise by eight percent to US $353 billion in 2010 among more than 110 of the largest publicly traded oil and gas companies, according to the IHS Herold 2010 Global Upstream Capital Spending Report, a comprehensive annual report just issued. An initial IHS Herold study of 65 companies issued in February had predicted a seven percent increase. | 
