RXT Signs Contract for Kvitebjørn Field

The multi-component seismic company Reservoir Exploration Technology ASA (RXT) has received an contract award for an Ocean Bottom Seismic (OBC) survey for the Kvitebjørn Field in Norway for Statoil.

The main objective is to improve structural interpretation and achieve better illumination of fault planes to improve fault interpretation. The survey duration is estimated to be minimum 70 days and the estimated contract value is minimum $14m, depending on final survey design. The survey is scheduled to commence in second quarter, 2012.

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, a joint venture between RXT and Brazilian Georadar Levantamentos Geofisicos S/A (Georadar) where RXT owns 45% and Georadar 55%. RXT is listed on the stock exchange in Norway.

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Offshore Nieuws Staff, January 10, 2012 ; Image: npd