David Cox, Paradigm's Vice President for the Asia Pacific Region commented, "We have increased our processing capacity by 170%, and within the region we will further increase this capacity by approximately 40% during the third quarter.
This expansion reflects our confidence in the potential for future oil & gas exploration and reservoir development in the region."
As part of this expansion, Paradigm Geophysical's Asia Pacific office has been awarded a contract to process 3D and 2D new offshore Indian seismic data on behalf of one of the awardees in the recent bidding round conducted by the Indian Government under its New Exploration Licensing Policy (NELP). This data is part of nine offshore blocks recently awarded under the NELP to Indian and foreign companies, on both the east and west coasts of India, in shallow and deep waters.
The first phase of this seismic data processing project has begun in Paradigm's service center in Perth. The project involves Time Processing through Pre-stack Time Migration, and is anticipated to extend to advanced AVO analysis and Pre-stack Depth Migration.
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