Magseis, a Norwegian geophysical company, has signed a letter of intent for a lease contract of its proprietary MASS nodes for a project in northeast Asia.
Magseis said on Thursday that it would mobilize a fully containerized MASS Modular handling system and field technicians for the project.
According to the company, the contract is expected to last for three months. The contract will begin during the second quarter of 2018.
Per-Christian Grytnes, CEO of Magseis, said: “We are delighted with entering into our first large lease agreement. It is a major first step in adding further flexibility to our business model. The MASS node is highly competitive, and we are further broadening deployment capabilities to enable more projects with low OPEX and attractive economics.”
Magseis was awarded its first MASS nodes lease agreement last month. The contract was for a project in southeast Asia. The company mobilized a light handling system and field technicians for the project.
MASS consists of ultra-compact 4C sensor capsules, fully automated handling systems and data download.
Magseis’ sensor weighs just over 8 kilograms and has a recording time of 65 days, and with its latest edition, the MASS III node has recording time of up 150 days.