Wavefield Inseis Awarded Petrobras - Libya 3D Seismic Contract

Wavefield Inseis has been commissioned by Petrobras to carry out a seismic survey in the southeast Mediterranean. The project, due to commence in February or March 2007, is expected to take one and a half months and will involve a 3D marine survey over Petrobras' license offshore Libya.

Located in block 18 within the Pelagian Basin, the 850 km2 survey will be acquired by the M/V Geowave Commander. Built in 1998 and converted by Wavefield Inseis earlier this year into one of the world's most modern 3D vessels, this high capacity ten streamer vessel is perfectly suited for this type of large scale exploration 3D project.

After a rigorous tendering process, Petrobras selected Norwegian-based Wavefield Inseis for the project ahead of a number of other operators. The first time the companies have worked together, the survey will utilize Wavefield Inseis' leading edge acquisition technology and extensive experience of 3D marine projects.

Commenting on the award, Rick Donoghue, Wavefield Inseis' vice president sales and marketing, said, "The fact that Wavefield Inseis is seen as the most appropriate partner for such a project underlines our capability and track-record of delivering high quality products." Donoghue added, "The agreement with Petrobras represents another step towards our goal of becoming a leading full service geophysical company."

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