PetroVietnam signs LOI to use SCAN Stigandi

PetroVietnam Exploration Production Corp. has signed a letter of intent with SCAN Geophysical ASA to acquire 4,000 km (2,485 mi) of 2D data in1Q 2008 using the M/V SCAN Stigandi.

Offshore staff

OSLO, Norway –PetroVietnam Exploration Production Corp. has signed a letter of intent with SCAN Geophysical ASA to acquire 4,000 km (2,485 mi) of 2D data in1Q 2008 using the M/V SCAN Stigandi.

The project marks two "firsts." It will be the first job for theSCAN Stigandi which is scheduled for release from the Irving Shipbuilding in Halifax, Canada shipyard in time for this survey. The vessel is equipped to handle four streamers for 3D applications and long-offset, large source configurations for 2D surveys worldwide.

The project also marks the first contract for SCAN with PetroVietnam.

04/28/2008

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