Wavefield Picks Up More North Sea Work

Wavefield Inseis has secured additional backlog in the North Sea for the 2007 season.

Several international oil companies have selected the company for more than US$45 million worth of work using for the large capacity 3D vessel Geowave Master, the 2D vessel Malene Ostervold and the 3D vessel Akademic Nemchinov, which is currently on a short-term charter. The work includes various 3D and 2D projects in both the UK and Norwegian sectors to be acquired between May and September 2007.

This backlog is in additional to the previously announced 10 months of 3D and 4D work in the North Sea that has been awarded by Statoil and which will be acquired by the Geowave Commander and Geowave Champion.

"We are extremely pleased to have secured this additional North Sea work giving us backlog for the whole fleet up to the fourth quarter of this year." commented CEO Atle Jacobsen, "We have been able to achieve this by moving the planned start-up of our Wide-azimuth Gulf of Mexico 3D project into the fourth quarter."

Wavefield Inseis ASA is a Norwegian company providing a range of proprietary and non-exclusive multi-client marine geophysical services using highly specified vessels and the latest seismic equipment. From its main offices in Oslo and Bergen, Norway, Wavefield Inseis has a global reach, with activities in the Americas, Europe, Africa, the Middle East and Asia.

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