SCAN awarded PDVSA Venezuela seismic contract

Petroleos de Venezuela SA (PDVSA) has awarded SCAN Geophysical ASA (SCAN) a $70 million contract for 3,300 sq km (1,274 sq mi) of 3D seismic work offshore Venezuela.

Offshore staff

OSLO, Norway -- Petroleos de Venezuela SA (PDVSA) has awarded SCAN Geophysical ASA (SCAN) a $70 million contract for 3,300 sq km (1,274 sq mi) of 3D seismic work offshore Venezuela.

Preceded by earlier announced awards by PDVSA for seismic services offshore Venezuela, this contract calls for additional marine 3D seismic to be acquired in the Dragon Norte region.

"We are pleased that PDVSA has shown confidence in SCAN Geophysical by awarding us this contract, the largest to date for our company," says Stephane Touche, senior VP and COO of SCAN. "Keeping our 3D vessel working in this region for a major company is consistent with our overall strategy to maintain vessel presence in the Americas and to work directly for operating entities."

08/26/2008

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