AGS inks master service agreement for ocean bottom nodal acquisition

  • Business & Finance

Axxis Geo Solutions (AGS), an ocean bottom node seismic company, has signed a global master service agreement with an unnamed international oil company, covering marine services including ocean bottom nodal (OBN) acquisition and other methods.

In connection with this agreement, AGS has received its first call-off for provision of services in the North Sea. AGS expects to execute on the work program during 2019 or 2020 North Sea seasons, the company said on Friday.

The global master service agreement pre-qualifies AGS for future marine contract work worldwide including Ocean Bottom Node (OBN) seismic. New contract awards from this customer will be under the agreement and will be given as call-offs.

“This agreement is a testimony to our safe and efficient operational performance worldwide, and we believe that AGS will be in a position to efficiently respond to further invitations to tender for new contracts from this customer,” says Lee Parker, the CEO of AGS.

“The customer in question is an important player in the international OBN market and we see this as a building block to a longer-term relationship. We see a growing interest in ocean bottom seismic acquisition services, and we are experiencing increased demand from oil and gas companies across the board. I am very excited about the prospects,” adds Parker.

In related news, AGS has recently completed a major field acquisition for ONGC of over 2,000 square kilometers in oilfields encompassing D1 and NH fields on the western continental shelf of India.

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