RXT to Shoot Shah Deniz Seismic for BP
The multi component seismic company Reservoir Exploration Technology ASA (RXT) has received a contract award from BP for a survey in the Caspian Sea. The estimated contract survey duration is five months.
Under the contract, RXT will acquire 4C seismic data over the Shah Deniz field, offshore Azerbaijan in the South Caspian Sea. The field is operated by BP.
The survey will be acquired with RXT`s third operation, "RXT3," which is scheduled to commence operation in April/May, 2007 over the Kashagan field offshore Kazakhstan. Acquisition over the Shah Deniz field is planned to commence in the fourth quarter 2007, at contract rates favorable to RXT`s annualized projections.
"The Caspian Sea has huge areas of prospective acreage requiring high-quality seismic data for future development," said Michael Scott, CEO of RXT. "The VectorSeis Ocean technology, combined with RXT`s innovative acquisition methods, is ideally suited to meet these data requirements, together with the highly varied operational challenges."
This contract complements very well the Kashagan project already awarded to RXT and further validates RXT's strategy to keep a crew permanently in the Caspian region.
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 is also 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.
Operates 32 Offshore Rigs
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Company: Reservoir Exploration Technology more info
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