Axxis Geo Solutions starts OBN survey in Middle East

Axxis Geo Solutions (AGS), a Norwegian ocean bottom node seismic company, has begun working on a large 3D ocean bottom node (OBN) survey in the Middle East.

Illustration. Source: Axxis Geo Solutions

AGS said on Friday that it had started working on the survey and that it would continue through most of the first quarter of 2020.

The company added that the revenue stream from this contract, as well as progress made with short term creditors and suppliers, were important milestones towards AGS’ intention to strengthen its working capital position.

It is worth reminding that the initial letter of intent for this contract was awarded to AGS on September 23, 2019. The signing of the final contract was delayed in mid-December when the company stated that it was making “significant efforts” to finalize the final contract and begin operation.

At the time, the client and its partners were discussing a reduced initial scope of work compared to the initial scope of 28 vessel months and that the delay of the execution of the contract. Consequently, the contract award to AGS was also delayed.

The company was awarded the final contract for the OBN survey back on December 30, 2020. At the time of the contract award, AGS stated that it had already mobilized four vessels to Malta in anticipation of the start of the contract.

Offshore Energy Today Staff


Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply