SCAN Wins 3D Seismic Program Offshore Venezuela

SCAN Geophysical has been awarded an additional contract from Petroleos de Venezuela SA (PDVSA) for marine 3D seismic work offshore Venezuela. This is the third award by PDVSA to SCAN for towed marine seismic services during 2007.

Preceded by earlier announced awards calling for 4400 Km 2D in the Caribbean region, 400 Km2 3D over Cardon II block off Venezuela, this contract award by PDVSA is for 2,500 Km2 of 3D in the Mariscal Sucre region. The large 3D survey is being planned for possible future 4D application as well as high-resolution recording attributes. This award will backlog SCAN’s proposed vessel M/V SCAN Resolution into mid-2008.

"This contract represents the largest award to date for SCAN" said Stephan Touche, Senior Vice President and COO of SCAN. "Keeping our 3D vessel working in this region for a major company is consistent with our overall strategy to make the Americas one of our most targeted regions and to work directly for operating entities" he added.

SCAN Geophysical ASA was established in 2002 as an international seismic data acquisition company specializing in both marine streamer seismic and ocean bottom seismic. The company is currently operating one 2D and one 3D streamer vessel, and will soon launch one 2002-built 3D vessel and three newbuild state-of-the-art 8-10 streamer 3D vessels during 2008. Administration is located in Oslo, with representatives in Caracas, Houston and Singapore