RXT to Conduct OBC Survey in Middle East

The multi-component seismic company Reservoir Exploration Technology ASA (RXT) has received a letter of award from an oil company for an ocean bottom cable survey in the Middle East.

Formal agreement will be entered into. The survey is scheduled to commence during 2012 and is estimated to take 13 months.

The estimated contract value is USD 104.5 mill.

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Source: RXT, March 7, 2012