Photo: Neptune Naiad

AGS enters Brazilian market following OBN survey contract

  • Business & Finance

Axxis Geo Solutions (AGS), a pure-play ocean bottom node seismic company, has signed a contract for source work in Brazil with a minimum value of $4 million with SAExploration.

Neptune Naiad; Source: AGS

AGS said on Tuesday that the initial contract is minimum three-vessel months including mobilization and demobilization which is compensated for.

The source vessel, Neptune Naiad, is owned by AGS and will be transferred from the North Sea for the beginning of Ocean Bottom Node (OBN) operations in Brazil in October.

The Neptune Naiad is a triple source vessel that has worked continuously on OBN projects since mid-2017.

The Osprey Explorer vessel will be mobilized to the ongoing OBN survey on Utsira in the North Sea and will remain on the project through completion. The survey is expected to be completed late September this year.

Lee Parker, CEO of Axxis Geo Solutions, said: “We are able to continue safe and reliable operations in the North Sea, while entering a new and growing market with our OBN source vessel in Brazil. This is a good example of how we are able to utilize our flexible asset-light operational model to provide fit-for-purpose solutions to our customers and partners.”

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