RXT Bags OBC Survey for Statoil Field

The multi-component seismic company Reservoir Exploration Technology (RXT) has received a contract award for an Ocean Bottom Seismic (OBC) survey for the Kvitebjorn Field in Norway for Statoil. The main objective is to improve structural interpretation and achieve better illumination of fault planes to improve fault interpretation. The survey duration is estimated to be minimum 70 days and the estimated contract value is minimum $14M, depending on final survey design. The survey is scheduled to commence in second quarter, 2012.

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