ChevronTexaco Awards Seismic Contract to WesternGeco

ChevronTexaco has awarded a contract to WesternGeco for a 3D seismic survey utilizing the advanced Q-Marine system. The contract is for a 30-day seismic acquisition program in the ChevronTexaco operated Captain field in the outer Moray Firth, UK North Sea.

Q-Marine is a proprietary marine seismic acquisition and processing system, comprising a suite of technologies designed for enhanced reservoir management. Improved imaging is a key factor in achieving better understanding of reservoir conditions and in delineating development opportunities.

The survey, scheduled for July 2003, will be conducted by the Geco Topaz Q-Marine vessel and is expected to cover more than 200 square kilometers across block 13/22a.

Commenting on the contract award, Steve Smith, Captain asset manager, said, "We expect Q-Marine to deliver a much clearer picture of Captain's internal reservoir architecture. This is critical to identifying further drilling targets that may lead to increased economic oil recovery from this significant field."

Captain Subsurface Manager, Steve Garrett, added, "The 2003 Captain survey will help ChevronTexaco evaluate the effectiveness of this new technology and assess its potential for application to other ChevronTexaco assets."

Leif Larsen, WesternGeco Marine General Manager, said, “We are pleased that ChevronTexaco has contracted WesternGeco for this Q-Marine survey to explore the high-resolution capabilities of Q."

Equity ownership of Captain is ChevronTexaco (85%) and the Korea Captain Company Ltd (15%).