Caspian Services acquires shallow-water seismic source vessel

Offshore staff

SALT LAKE CITY, Utah --Caspian Services Inc. has finalized purchase of a shallow-water seismic source vessel to be used in the ongoing State Geophysical Survey under way by Veritas Caspian Llp. for Kazakhstan.

The 36-m (118-ft) long vessel can work in 1.5 m (5 ft) of water and is suitable for the shallow northeast Caspian Sea area. Caspian Services expects the vessel to begin work during the 2007 season in the Caspian Sea.

"This is another important addition to our specialized fleet of shallow draft vessels," says John Scott, COO for Caspian Services. "We expect the addition of this seismic source vessel to our Veritas Caspian chartered fleet to increase the efficiency with which we can gather seismic data. This should lead to enhanced profitability from the State Geophysical Survey project."

4/11/2007