SCAN to Conduct 2D Seismic Program Offshore Ecuador

SCAN Geophysical has announced the receipt of a Letter of Award (LOA) from PETROPRODUCCION Empresa Estatal de Exploracion y Produccion de Petroleos del Ecuador (PETROPRODUCCION), an affiliate of Petroecuador, to acquire a major 2D seismic program offshore Ecuador in support of the government's plan to develop hydrocarbon prospects in this region.

The ground-breaking survey is covering majority of the Ecuadorian coast, with focus on basins in Esmeraldas, Manabi, Guayas and Santa Elena provinces and comprises approximately 10,000 Km of two-dimensional marine acquisition. The LOA is subject to the parties finalizing a mutually agreeable contract.

SCAN's new multi-purpose seismic vessel, the M/V SCAN STIGANDI will be transiting to Ecuador to acquire the program with an immediate startup upon arrival.

"This seismic program is a milestone in Ecuador's strong commitment for expansion of available offshore natural resources and SCAN is honored to be a part of this historic event," said Kjell Karlsson, vice president of marketing and sales for SCAN in Oslo.

The seismic program will be acquired utilizing SCAN's new and technologically advanced vessel and onboard seismic equipment, including 8,000 m towed solid streamer.