EMGS awarded US $90 million contract by Petrobras 25 August 2011—Electromagnetic Geoservices ASA (EMGS) has been awarded a contract worth US $90 million by Petrobras to perform a range of electromagnetic surveys in frontier and mature basins offshore Brazil. Data acquisition will be performed using the vessel BOA Galatea and is expected to take approximately one year. Petrobras has requested start-up as soon as practically possible. EMGS has recently strengthened its Rio de Janeiro office, which is headed by country manager Ricardo Perrone, with further EM expertise and processing capabilities to address the Petrobras contract and the growing market opportunities in South America. Bjørn Petter Lindhom, VP business development Latin America, also recently relocated from Houston to the new office, and he will be working closely with EMGS's multiclient team to capitalize on the substantial market potential in Brazil. The net value of the contract after direct taxes is estimated at US $77 million.
PGS Crystal III wide-azimuth western GOM ready for delivery 25 August 2011—This survey, which covers 485 OCS blocks, or 11,300 km2, in East Breaks and Alaminos Canyon provides never-before-seen wide azimuth imaging of the subsalt over the western portion of the Lower Tertiary Wilcox play. No subsalt wells have yet been drilled in this region. The Wilcox Trend is the most active exploration play in the deepwater Gulf of Mexico, with significant discoveries to the south of Crystal III in Alaminos Canyon (Great White) and to the east in Keathley Canyon (Kaskida, Tiber, and Hadrian) and in Walker Ridge (Jack). Recent studies suggest that reservoir-quality Wilcox sediments may be present in East Breaks in a deepwater sandy fan environment. Oil and gas production from the Diana-Hoover and Nansen-Boomvang fields indicates that there is a functioning hydrocarbon charge and migration system in this area as well. Exploration in the western Gulf of Mexico has been hampered by inability to accurately image deep structure with conventional 3D narrow-azimuth seismic data. The geology of this region includes tight compressional folding and multiple levels of salt sheets, diapirs, and welds overlain by a massive Oligocene shale section. PGS is addressing this complexity with an imaging strategy focusing on TTI (tilted transverse isotropy) beam migration and RTM (reverse time migration).
Arcis Corporation has successfully completed the purchase of all the outstanding shares of VGS Seismic Canada Inc
Earth Science Week contest expanded internationally 26 August 2011—The American Geological Institute (AGI) is expanding eligibility for its annual Earth Science Week photography contest to allow members of AGI International Affiliates to participate for the first time. Previously open only to residents of the United States, the photo contest has always been a major part of Earth Science Week, which this year is being celebrated 9–15 October. Members of AGI International Affiliates are encouraged to enter this year's Earth Science Week photography contest, "A World of Change in My Community." These individuals are invited to use a camera to capture evidence of the long- or short-term changes taking place around their planet and even in their own neighborhoods.
Visualization Sciences Group (VSG) and Schlumberger sign collaboration agreement 30 August 2011—VSG has signed a global partnership agreement with Schlumberger. This collaboration agreement will expand the integration of VSG's Open Inventor technology across the whole range of Schlumberger software products. This global technological collaboration will make available 3D high performance and graphics capabilities to all Schlumberger software products, providing oil and gas companies with 3D software solutions to fully realize the potential of the digital oil field. Open Inventor has been used for more than ten years in various Schlumberger software products, and this new partnership agreement provides the potential to expand the use of Open Inventor to any Schlumberger software product or application. It also consolidates the partnership between both companies so that they can collaborate more closely to ensure that all Schlumberger products benefit in the most optimal way from VSG's latest 3D technologies.
EMGS announces agreement to acquire OHM 30 August 201—Electromagnetic Geoservices ASA (EMGS) has entered into an agreement to acquire OHM Surveys Holding AS (OHM), a marine electromagnetic (EM) acquisition company, for US $15.75 million in a stock-for-stock transaction. As a part of the transaction, EMGS has entered into an agreement with Seatrans Group to charter the two vessels OHM Leader and OHM Express on a pay-per-use basis. The vessels will, at no standby cost, be ready to mobilize on 3-, 6- or 12-month charters over the course of the next 42 months (OHM Leader) and 30 months (OHM Express). EMGS will equip these two purpose-converted EM vessels with its custom-designed acquisition set, giving the vessels the ability to acquire the same high-quality 3D EM data as is obtained using EMGS's purpose-built 3D EM vessels. The two vessels will be available at short notice from Bergen and Singapore, thereby providing EMGS with capacity to quickly respond to market demand in Europe, Africa, and the Asia Pacific region at substantially reduced steaming and mobilization costs. The transaction also includes a prepaid service agreement worth approximately US $2.6 million between OHM and Rock Solid Images (RSI), which provides EMGS with additional processing capacity and expertise.
PanAmerican Geophysical establishes new multiclient data company 1 September 2011— PanAmerican Geophysical Company Limited, a North and South America focused seismic service company, has established a new company to offer multiclient seismic surveys. The new company, PanAmerican GeoExchange, Inc., will concentrate on programs in the United States and is actively planning a number of surveys targeting hydrocarbon bearing shale plays. PanAmerican GeoExchange has appointed Tony Clark as President and will be based in Houston.
TGS awards seismic contract for 3D survey in Utica Shale 1 September 2011—TGS has awarded the acquisition of a 307 mi2 (795 km2) multiclient 3D project onshore United States. The new seismic program, Firestone 3D, is designed to illuminate the Utica Shale play in Northeast Ohio and aid in the development of this unconventional play. Tidelands Geophysical Services is expected to begin acquisition on the project in early 2012. Data acquisition is anticipated to take seven months. The Utica Shale is a geologic formation a few thousand feet below the Marcellus Shale that is characterized by a western oil phase, a central wet gas and an eastern dry gas phase. The new seismic survey is over the wet gas/liquids rich portion of the Utica Shale. Many see the Utica Shale play as analogous to the prolific Eagle Ford Shale in Texas. The Utica Shale is thicker and more geographically extensive than the Marcellus Shale Trend and has already proven its ability to support commercial production. |
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