BSEE Retains TGS
Norwegean surveying services company TGS-NOPEC Geophysical Company (TGS) has been awarded a five-year contract for Digital Well Log Data Processing with the United States Department of the Interior, Bureau of Safety and Environmental Enforcement (BSEE), a federal agency tasked with overseeing offshore oil and gas activities.TGS has been providing Digital Well Log Data Processing services to BSEE since 2004, said the provider of multi-client geoscience data to oil and gas Exploration and Production companies worldwide.BSEE requires complete, defect-free sets of processed, high-quality open-hole digital well log data and contracts companies to serve as an agent of BSEE for the processing…
GE to Merge Oil & Gas Unit with Baker Hughes
General Electric Co said on Monday it would merge its oil and gas business with Baker Hughes Inc, creating the world's second-largest oilfield services provider as competition heats up to supply more-efficient products and services to the energy industry after several years of low crude prices. The deal to create a company with $32 billion in annual revenue will combine GE's strengths in making equipment long-prized by oil producers with Baker Hughes's expertise in drilling and fracking new wells. Shares of Baker Hughes were down nearly 7 percent, a drop that executives said likely was due to the deal's complicated structure. GE is already the world's largest oilfield equipment maker, supplying blowout preventers, pumps and compressors used in exploration and production.
Polarcus Innovation in Seismic Vessel Design
Polarcus Limited received its eighth 3D seismic vessel on 21 June 2012 when Polarcus Adira was delivered at Ulstein Verft in Norway. The vessel is the second of two 12-14 streamer Arctic 3D seismic vessels built at the yard, and is the eighth vessel in the Polarcus fleet of the Ulstein SX134 design. The marine geophysical company Polarcus Limited received its eighth 3D seismic vessel on 21 June 2012 when Polarcus Adira was delivered at Ulstein Verft in Norway. The vessel is the second of two 12-14 streamer Arctic 3D seismic vessels built at the yard…
GX Technology Agreement With Polarcus
ION Geophysical Corporation (NYSE:IO) announced that its seismic imaging subsidiary, GX Technology (GXT), has signed an agreement with The Polarcus Group of Companies (Polarcus) for the provision of seismic data processing services. This agreement includes onboard quality control (QC), onboard processing, and land-based data processing (DP) services. The agreement calls for GXT to provide hardware, software and geophysicists in order to support a seismic project's entire imaging lifecycle, from the vessel to an onshore data processing center. Nick Bernitsas, Senior Vice President of ION's GXT Imaging Solutions division, commented, "Many…
Offshore Week
PanCanadian Petroleum Ltd., Canada's No. 2 oil company, could soon be on track to develop an East Coast offshore gas project to rival the huge Sable Island project, its chief executive said. PanCanadian, the oil and gas arm of conglomerate Canadian Pacific Ltd., plans to drill two appraisal wells this year near its recent Deep Panuke gas discoveries, made at the site of the exhausted Copan oil project off Nova Scotia. The wells will give the company the geological data it needs to decide whether to pursue more drilling or full development, PanCanadian CEO David Tuer said. Two recent wells drilled into the gas formation beneath the old oil reservoir tested at more than 50 million cubic feet a day each.
