Statoil Awards Contract to Wavefield InSeis

Statoil has signed a letter of intent with Wavefield InSeis for the charter of two seismic vessels for the 2007 season.

Statoil has secured seismic vessel capacity for the majority of its exploration program in Norway in 2007. The group has signed a letter of intent with Wavefield InSeis for the charter of two vessels. Wavefield InSeis is the name of the company formed after the merger between Wavefield Geophysical and InSeis.

"Statoil has an active exploration program for the Norwegian continental shelf," says Tim Dodson, senior vice president for exploration in Statoil's Exploration & Production Norway business area.

"The group has obtained much new acreage in recent years. There is a need for three-dimensional (3D) seismic data in most of these areas in order to mature drillable prospects."

The vessels Geowave Commander and Geowave Champion will gather 4,000-5,000 square kilometers of 3D seismic data from 1 May 2007, mostly on the Norwegian continental shelf.

Geowave Commander will soon be on its way to Norway, after upgrading in a Spanish shipyard. The vessel will perform assignments for Statoil also in the current seismic season. Geowave Champion is being modified in Norway, and is expected to be operative in February 2007.


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