The multi-component seismic company Reservoir Exploration Technology ASA (RXT) has received a contract award from an international oil company for an Ocean Bottom Cable survey offshore Norway.
The total survey duration is expected to be 116 days and the estimated contract value is $24.5m.
The survey will be acquired in two parts and is scheduled to commence Q1 2012 with planned completion Q4 2012.
Reservoir Exploration Technology ASA (RXT) is the only marine geophysical company specializing in multi component seismic seafloor acquisition.
Multi-component seismic solves several imaging challenges that cannot be resolved with towed streamer seismic, and targets improved oil recovery from existing fields.
The technology also gives better data quality for appraisal and development, and is also the solution where towed streamers are impractical due to high density of platforms and/or shallow waters.
RXT has offices in Oslo, Norway in Abu Dhabi, UAE and Houston, Texas. In addition RXT is represented in Brazil by GeoRXT.
[mappress] Subsea World News Staff , February 17, 2012; Image: RXT