ION Deploys FireFly System for Mexican Operations

ION Geophysical had signed an agreement for the deployment of an 8,000 station FireFly® system with Compania Mexicana de Exploraciones (Comesa), an oil field services company majority owned by Petroleos Mexicanos (PEMEX), the national oil company of Mexico. The FireFly system will be deployed on three projects in which ION personnel will be involved across the entire seismic workflow, including survey design, data processing and reservoir interpretation.

Mr. Antonio Escalera, Sub-Director of Exploration at PEMEX, commented, "PEMEX is committed to investing in exploration and production, even in the current economic climate. In 2009, we plan to invest around $2 billion in exploration activities, with approximately 20% of this amount dedicated to seismic acquisition and processing. The seismic projects we plan to undertake with ION and Comesa are intended to help optimize our exploration and reservoir development investments by allowing us to image some of our more challenging sub-surface targets using the latest geophysical technologies."

Mr. Adan Oviedo, Managing Director of Comesa, added, "We look forward to working with the FireFly system. These three projects will be undertaken in a variety of environments ranging from swampy areas to agriculturally intensive regions that will let us test the productivity advantages of a cableless seismic recording system. Permitting a seismic program in Mexico can often be a time-consuming process, but we are hoping that FireFly's cableless architecture can help both public and private landowners understand that we can conduct a seismic acquisition operation in a rapid, 'get in, get out' manner and with minimal environmental disturbance. At the same time, we will be acquiring more valuable seismic data to deliver to PEMEX in order to provide better subsurface images for risk reduction in prospect generation and reservoir characterization studies."

Mr. Jim Hollis, President and COO of ION, concluded by saying, "These projects serve as excellent examples of how ION aspires to collaborate with both E&P companies and geophysical service providers to address their toughest seismic imaging and operational challenges. We have found that our technologies can deliver the most value when ION personnel are involved throughout the seismic workflow, as they will be in these projects. Our GXT Imaging Solutions group will be ensuring the surveys are designed to acquire high-fidelity, full-wave seismic data suitable for improving the resolution and characterization of reservoir zones that have been difficult to image with conventional seismic techniques."