Magseis gains extension for Red Sea survey
- Business & Finance
Geophysical company Magseis has, together with its partner BGP, been awarded an extension to the ongoing contract with BGP Arabia and Saudi Aramco to acquire additional ocean bottom seismic data block in the Red Sea.
According to the company’s statement on Friday, the project has an expected duration of 6-7 months and is expected to start during April 2017. Magseis’ OBS vessel Artemis Athene will be used for the survey.
The survey features complicated surface and geological conditions with a combination of deep and shallow marine work, Magseis said.
The company further added that the combination of its OBS technology (MASS) and BGP’s transition zone expertise ensured the extension to the consortium.
Commenting on the extension, Magseis CEO Idar Horstad said: “We are very pleased to receive this new award that demonstrates our ability to deliver large and complex projects. We view this as a sign of confidence from our end- client Saudi Aramco and a confirmation of the high-quality product that our joint operation delivers.”