SCAN Geophysical Receives LOI from PetroVietnam

SCAN Geophysical ASA (SCAN) has received confirmation and a Letter of Intent (LOI) from PetroVietnam Exploration Production Corporation for its new ice class, four-streamer, dual purpose vessel, the M/V SCAN Stigandi. The vessel is scheduled to acquire approximately 4,000 km of 2D data for PetroVietnam in the Caribbean region, with mobilization towards the end of May / beginning of June 2008.

The M/V SCAN Stigandi was outfitted by Irving Shipbuilding in Halifax, Canada, and scheduled for release from the shipyard in time for this survey. This modern seismic vessel is equipped to handle four streamers for 3D applications and long-offset, large source configurations for 2D surveys worldwide.

"SCAN is especially pleased to make this announcement because it is a double first for the company," said Kjell Karlsson, vice president of sales and marketing. "This will be the first contract for the new M/V SCAN Stigandi and it will be the first job for this client," he explained.