ION Acquires UruguaySPAN 2D Seismic Survey

ION Geophysical Corporation announced that it has successfully acquired 2,800 km of high-quality, depth-imaged seismic data within the Punta del Este Basin offshore Uruguay.

Known as UruguaySPAN, this latest addition to ION’s global BasinSPAN seismic data library will provide E&P companies with the first deep, geologically-driven image of the province, enabling them to more effectively assess Uruguay’s offshore hydrocarbon potential, identify new opportunities, and mitigate exploration risk.

UruguaySPAN links with ION’s existing ArgentineSPAN and BrasilSPAN surveys, imaging the northern Argentine and southern Brazilian basins, to provide the first true regional framework of the Punta del Este basin.

Doug Allinson, Vice President, Latin America for ION’s GeoVentures division, commented, “We are pleased to have acquired this survey in conjunction with the Administracion Nacional de Combustibles, Alcoholes y Portland (ANCAP), Uruguay’s national agency responsible for hydrocarbon development. South America is a highly prospective region for oil and gas companies, and the Southern Atlantic margin is one of the Southern Hemisphere’s most under-explored areas. The survey will provide operators a better understanding of the petroleum system development offshore Uruguay, which is currently experiencing considerable exploration activity.”

Data is being processed using the latest technologies by ION’s GX Technology data processing group and will be available to ION clients in second quarter 2013.

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Press Release, February 22, 2013