RXT Enters LOI to Acquire Seismic Data in West Africa

The multi-component seismic company Reservoir Exploration Technology ASA (RXT) has entered into a LOI with an international oil company regarding acquisition of 4D/4C seismic data in West Africa.

The intention is to conclude the final contract during December and start up of the project will be in end Q4 2011. The work will be done by the vessels Ocean Pearl and Vikland and is estimated to take 45 days, depending on the final lay out of the acquisition design.

About RXT:

Reservoir Exploration Technology ASA (RXT) is the only marine geophysical company specializing in multi component seismic seafloor acquisition. Multi-component seismic solves several imaging challenges that cannot be resolved with towed streamer seismic, and targets improved oil recovery from existing fields. The technology also gives better data quality for appraisal and development, and is also the solution where towed streamers are impractical due to high density of platforms and/ or shallow waters. RXT has offices in Oslo, Norway in Abu Dhabi, UAE and Houston, Texas. In addition RXT is represented in Brazil with Geo RXT.

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World Maritime News Staff, November 25, 2011; Image: RXT