Wavefield Lands $170MM Contract for 3D Seismic Work Offshore India
Wavefield Inseis has been awarded a long term contract for 3D seismic services by ONGC. Commencing during the fourth quarter this year, the contract is for a program of 3D surveys offshore India to be acquired each season through to 2011. The total contract value is in excess of $170 million.
The first season's program will be acquired by the Geowave Commander which will be mobilized from Europe. This significantly increases Wavefield's market share in the region and will strengthen the Company's Singapore office operation.
Earlier in the year Wavefield acquired a 2D project offshore India and this valuable operational experience will positively impact on this first large 3D contract in the country.
Commenting on the award, CEO Atle Jacobsen stated, "This is not only our first 3D in India, this 3 year contract is also our largest to date and our first with ONGC for whom we are delighted and proud to be providing services on such a prestigious project."
Operates 37 Offshore Rigs
Manages 8 Offshore Rigs
- Venezuela's PDVSA To Tap Oil Customers To Pay $449MM To ONGC (Nov 15)
- Sources: India ONGC Strikes 'Good' Offshore Oil, Gas Find (Sep 20)
- India To Acquire Seismic Data Of 48,000 Line kms To Boost Oil, Gas Output (Sep 12)
Company: Wavefield Inseis AS more info
- CGGVeritas Sets the Date for Acquisition of Wavefield Inseis (Feb 04)
- CGGVeritas' Settlement for Wavefield's Shares Expected to Close Tomorrow (Feb 03)
- CGGVeritas Closes Mandatory Offer for All Wavefield Shares (Jan 28)