Magseis gets seismic survey extension from Saudi Aramco
- Business & Finance
Magseis, a Norwegian geophysical company, has been awarded an extension to the ongoing contract with BGP Arabia and Saudi Aramco to acquire additional ocean bottom seismic data in the Red Sea.
The new survey has an expected duration of more than seven months and will begin in January 2018, Magseis said on Tuesday.
The survey features complicated surface and geological conditions with a combination of deep and shallow marine work.
According to the company, the combination of Magseis’ OBS technology (MASS) and BGP’s transition zone expertise ensured the extension to the consortium.
Magseis interim CEO Per Christian Grytnes 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.”
To remind, Magseis was awarded Saudi Aramco’s S78 project for large-scale ocean bottom seismic acquisition in the Red Sea in February 2016. The company began work on the project in August of the same year following a period of preparation and testing.
The extension of the contract will be executed by using the M/V Artemis Athene, Magseis’ OBS vessel, which was used for the initial contract as well.