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Namibia: Spectrum Starts Seismic Survey in Luderitz Basin

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Spectrum, in partnership with the National Petroleum Corporation of Namibia (NAMCOR), has commenced a new project in the Luderitz basin following the successful completion of an extended 2D Multi-Client seismic survey covering the deep water Orange Basin, offshore Namibia.

The Orange Basin program acquisition has been completed with additional lines now extending the program to over 8,000 km of long offset data. The vessel has now commenced a new regional program in the Luderitz Basin consisting of 4,400 km plus a potential infill of 1,200 km.

Seabird Exploration is providing the acquisition services through their Northern Explorer vessel which performed exceptionally well during January and February. Nearly 4,000 km of high quality data was acquired in February and the extended survey was completed ahead of schedule. Further prefunding has enabled Spectrum to add additional lines to the Orange Basin program and to commence the new Luderitz Basin survey.

There is considerable attention in the area at this time. The new survey is located immediately between the recently announced BP farm-in to the Serica 2513 A&B blocks and the potential in the Petrobras/BP/Chariot 2714A block. Very little seismic data is available over these blocks  and Spectrum’s survey will provide both Operators and potential Partners with a good quality regional dataset to evaluate this almost unexplored area.

The Orange Basin survey is now in processing with final deliverables expected to be available in June 2012. The Luderitz basin survey will be available in August.

Over 35,000 km of high-quality 2D multi-client data is now available through Spectrum from offshore Namibia in ten individual surveys. Each survey has been designed to target key plays within the offshore area. The data vintages range from the 1989 regional survey, through to detailed block specific surveys including the 2003 survey acquired around the Ondjou prospect in the northern Walvis Basin. There is also a comprehensive suite of surveys around the Kudu field, as well as covering the Orange and Luderitz Basins.

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USA: ION Reports Results for Third Quarter 2011

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ION Geophysical Corporation reported third quarter 2011 revenues of $115.7 million, compared to revenues of $121.6 million in the third quarter of 2010. Net income in the third quarter of 2011 was $8.7 million, or $0.06 per diluted share, compared to $11.9 million, or $0.08 per diluted share, in the third quarter of 2010.

ABOUT ION:

ION Geophysical Corporation is a leading provider of geophysical technology, services, and solutions for the global oil & gas industry. ION’s offerings are designed to allow E&P operators to obtain higher resolution images of the subsurface to reduce the risk of exploration and reservoir development, and to enable seismic contractors to acquire geophysical data safely and efficiently.

ION Geophysical Corporation (NYSE: IO)

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Sikuliaq Research Vessel Replaces Alpha Helix in Subsea Explorations of Alaska Region

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Guido Perla & Associates (GPA) has announced that the keel laying recently took place at Marinette Marine Corporation (MMC) for the Alaska Region research vessel (ARRV) Sikuliaq, for which GPA provided design validation.

The Sikuliaq, a cold-climate, oceanographic research ship, will replace the 40-plus-year-old and now retired Alpha Helix. The Sikuliaq, owned by the National Science Foundation, with its initial science mission in 2014, is said to be one of the most advanced university research vessels, and will go into operation after delivery to the University of Alaska, Fairbanks (UAF). The vessel will be home ported in Seward, Alaska, at UAF’s Seward Marine Center. Length oa is 261.5ft, maximum beam 52.0ft and design waterline draught is 19.5ft. Displacement at the design waterline is 4,065 long tons. Sikuliaq is designed to reach 14 knots in calm waters.

The vessel was designed to leave the smallest environmental footprint possible, taking into consideration underwater radiated noise for marine mammals and fisheries. Up to 26 scientists and students, including those with disabilities, can be accommodated onboard. Operated by the UAF, and part of the US academic research fleet, the vessel has mild ice breaking capabilities for ice of up to 2.5ft thick. Thus, the vessel is capable of safely bringing scientists to the ice-choked waters of Alaska and the polar regions and of operating for longer periods of time than previously possible in the North Pacific Ocean, Gulf of Alaska, and the Bering, Chukchi, and Beaufort Seas.

Sikuliaq

Sikuliaq will be employed on research missions such as collecting sediment samples from the seafloor, hosting remotely operated vehicles, using a flexible suite of winches for handling of scientific equipment and conducting surveys throughout the water column and sea bottom with the use of extensive research instrumentation. It will be capable of transmitting real-time information ashore.

GPA says it was selected by MMC to assist with the design verification phase of the contract with UAF. GPA reviewed the design for compliance with the rules of ABS, USCG, SOLAS, stability requirements, the owner specifications, and various other criteria pertaining to good marine construction practices and shipyard building techniques. The final goal of the Design Verification was to turn over responsibility for the vessel design to MMC. Additionally, MMC had GPA develop several other functional design drawings for the shipyard, as well as detailed design for major foundations and key systems.

The Sikuliaq bears the class notations ABS XA1 Oceanographic Vessel, XAMS, XACCU, XDPS-1, unrestricted service.

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