Caspian Services Charters Three Vessels to RXT

Caspian Services, Inc. said that, through its wholly-owned subsidiary Caspian Services Group Ltd., it has signed a contract to provide three vessels to Reservoir Exploration Technology ASA (RXT), a marine geophysical company specializing in multi-component seismic sea-floor acquisition.

RXT recently signed a letter of intent with Agip KCO to conduct a four component 3D seismic survey over the extensive Kashagan field. Caspian Services will add two additional shallow draft survey/work vessels to its fleet to service this contract. These vessels will be drawn from the Rederij Waterweg BV fleet as part of the ongoing partnership between the two marine companies.

John Scott, Chief Operating Officer of CSI, commenting on the contract noted "This contract will keep Caspian Services in the forefront of companies providing seismic fleet services in the expanding Caspian Sea oil and gas exploration efforts. We expect that our extensive experience in conducting seismic surveys in the challenging waters of the northeast Caspian Sea will benefit the project significantly."

Caspian Services, Inc. is an oilfield service company providing a broad range of services in the Caspian Sea region of western Kazakhstan. The Company provides seismic data acquisition services; maintains a fleet of vessels that it commissions to oil and gas exploration companies engaged in development activities in the north Caspian Sea and other oilfield services such as lodging and desalinated water in the Port of Bautino. The Company maintains corporate offices in Almaty and Aktau, Kazakhstan and Salt Lake City, Utah.

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