Under the anticipated contract, RXT/DP will acquire OBC over a producing field offshore Nigeria. The survey will be acquired with RXT's operation RXT2. It is scheduled to commence in Q2, 2007, before the earlier announced survey for Mobil Producing Nigeria.
DP is a subsidiary of RXT's partner for West Africa, Terra Global Ltd.
Reservoir Exploration Technology ASA (RXT) is a marine geophysical company specializing in multi-component seismic sea-floor acquisition. Multi-component seismic solves several imaging challenges that cannot be resolved with towed streamer seismic and targets improved oil recovery from existing fields. The technology also gives better data quality for exploration, and it is the solution where towed streamers are impractical due to high density of platforms and/ or shallow waters. The Company has offices in Oslo, London and Houston.
Bermuda-based TG Ltd has built and operates exploration services companies in West Africa. The company establishes technology and marketing agreements with leading technology providers and promotes the technology in joint venture with the provider through its West African operations. Central to TG's business strategy is building local content in emerging markets. TG has signed a long-term marketing and technology agreement with RXT for West Africa business opportunities.
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