Scan and PT Fairfield Ink JV for Seismic Work Offshore Indonesia

Scan Geophysical ASA and PT Fairfield Indonesia, a subsidiary of Fairfield Industries, Inc., have signed a Consortium Agreement that will allow the two companies to conduct joint 2D and 3D marine seismic operations in Indonesia on a combination of proprietary projects and multi-client surveys.

Given the lack of seismic vessels available in this region, the companies expect a large volume of back logged work for both SCAN's 2D vessel, the Geo Searcher, and the company's 3D vessel, the SCAN Resolution. Depending upon current survey planning and market timing, SCAN could have a vessel working on the first of the joint projects late this year.

SCAN Geophysical ASA was established in 2002 as a Norwegian seismic data acquisition company specializing in both marine streamer seismic and ocean bottom seismic. The company is currently operating one 2D and one 3D streamer vessel, and will launch three new state-of-the-art 3D vessels and one 2002-built 2D vessel during 2007. The administration is located in Oslo, with representatives in Moscow, Houston, Singapore and Caracas. SCAN Geophysical ASA is listed on the Norwegian OTC list (SCAN).

SCAN is listed on the Norwegian OTC list (ticker symbol: SCAN), and will be listed on the Oslo Stock Exchange in 2007.

PT Fairfield Indonesia was established in February 2005 and provides service to the S.E. Asia oil and gas community. The company currently operates the largest capacity seismic data processing facility in Indonesia.


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