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Geokinetics awarded a contract by Brunei Shell Petroleum to acquire a high resolution 3D survey in Brunei Darussalam


FOR IMMEDIATE RELEASE 

Geokinetics awarded a contract by Brunei Shell Petroleum to acquire a high resolution 3D survey in Brunei Darussalam 

HOUSTON, TX (20 March 2017) - Geokinetics Inc., a provider of integrated seismic data acquisition, processing and reservoir analysis solutions, is pleased to announce that it has been awarded a contract by Brunei Shell Petroleum Company Sdn Bhd (BSP) to acquire a high resolution 3D seismic survey, offshore Brunei Darussalam.  The acquisition is scheduled for Q2 2017 and involves the deployment of a hybrid recording solution that comprises both towed streamers and ocean bottom nodes, positioned around extensive field production infrastructure.   

“We are pleased that our expertise in complex seafloor survey operations has been recognized through the award of this project.” stated Mr. David Crowley, President and CEO of Geokinetics.  “This marks our fourth project with BSP within the last six years, which clearly demonstrates the trust that Geokinetics has earned with this prestigious client.” 

Geokinetics is a market leader in deploying state-of-the-art acquisition and processing technologies to 2D, 3D and 4D land, transition zone (TZ) and marine Ocean Bottom System (OBS) surveys in challenging environments.  

“Geokinetics substantial acquisition experience in the region dates back to the early 1970's.” said Craig Walker, Regional Manager Asia Pacific, based in Singapore.  “I'm delighted that we have secured this contract and look forward to working with BSP again.”

The project will be managed by Geokinetics' Seafloor Operations (SFO) Group, which acquires seafloor seismic from beach to deepwater anywhere in the world, in all geographic and geological settings.  The SFO Group is comprised of a fleet of specialized proprietary vessels and equipment, including both ocean bottom cable (OBC) and ocean bottom nodal (OBN) recording systems.

“Providing innovative solutions to challenging projects and executing them safely and efficiently is our core business.” said Ewan Neill, Vice President, Marine Acquisition.  “Our hybrid recording system solution, combining streamer and nodal, provides BSP with the most cost effective solution for acquiring the seismic data that is required to underpin this field's future development program.” 

About Geokinetics Inc. www.geokinetics.com 

Headquartered in Houston, Texas, Geokinetics is one of the world's largest independent land and seafloor geophysical companies. The company is an international seismic contractor that specializes in acquiring and processing seismic data from some of the toughest and most challenging environments in the world. Geokinetics has expertise covering high land onshore through the transition zone and across the offshore seafloor. With its worldwide operating experience, comprehensive global resources and in-depth capabilities, Geokinetics offers the most innovative, cost-effective and efficient acquisition and processing solutions. Geokinetics' expanding Multi-Client Survey Library consists of both 2D and 3D data, covering conventional and unconventional plays throughout key areas of interest around the world, specifically in North America, Mexico, Brazil, Uruguay and Argentina. 

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include Geokinetics' reliance on a cyclical industry and principal customers, Geokinetics' ability to continue to expand markets for licensing of data, and Geokinetics' ability to acquire and process data product at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. Geokinetics undertakes no responsibility or obligation to update or alter forward-looking statements for any reason. 

For more information contact: 

David Hammer

Vice President, Sales and Marketing

Geokinetics Inc.

Tel: +1 713 840 3334


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Geokineticsseismic acquisitionintegrated seismic data acquisitionseismic data processingreservoir analysis solutionshigh resolution 3D seismic surveyocean bottom nodesseafloor operationsocean bottom cableland seismic acqisitionBrunei Shell Petroleum

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