Norwegian-based marine geophysical company Wavefield Inseis ASA has been awarded a long-term contract for 3D seismic services by Indian-based Oil and Natural Gas Corporation.
Commencing during the fourth quarter of this year, the contract is for a program of 3D surveys offshore India to be acquired each season until 2011. The total contract value is in excess of US$170 million. The first season's program will be acquired by the ‘M/V Geowave Commander’ which will be mobilized from Europe. This significantly increases Wavefield's market share in the region. Earlier in the year Wavefield acquired a 2D project offshore India which will "positively impact" its first large 3D contract in the country. Commenting on the award, Wavefield Inseis CEO Atle Jacobsen stated: "This is not only our first 3D in India. This three-year contract is also our largest to date and our first with ONGC."
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