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Press
Release |
ION and Guide Announce Geophysical
Alliance
Joint Center to Provide Advanced Seismic
Data Processing Services for North
Africa
HOUSTON and CAIRO, Egypt, Oct. 27 - ION
Geophysical Corporation (NYSE: IO) and
Guide Geoscience Technologies (GGT), a
Cairo-based seismic data processing
company, announced the formation of an
alliance to provide advanced imaging and
reservoir-related services to oil & gas
companies operating in North Africa. By
blending the technological strengths of
ION's GX Technology (GXT) Imaging
Solutions group and the regional
expertise of Guide, the companies will
deliver state-of-the-art geoscience
technology solutions that enhance the
quality and utility of seismic data,
thereby allowing clients to optimize
their exploration and development
drilling programs, advance their
hydrocarbon production, and find
additional reserves in mature fields.
Egypt boasts one of the oldest oil & gas
industries in the world, yet still
offers many new opportunities for
companies operating within the region.
Egypt is a significant oil producer
including the mature fields in the Gulf
of Suez. More recently, major
international oil companies have found
new gas discoveries in the Nile Delta
and the Western Mediterranean. Across
the border in Libya, numerous
international oil and gas companies have
been awarded large tracts of undeveloped
but highly prospective acreage over the
last several years.
Given heightened exploration interest in
North Africa, the Guide-ION imaging
center in Cairo is ideally suited to
deliver a broad range of advanced
seismic processing services for 2D, 3D,
land, marine, and transition zone data.
The full scope of services also includes
data conditioning, velocity model
building, seismic imaging, and
geophysical reservoir analysis and
interpretation. The center has been
equipped with the latest Linux-based
server hardware and advanced data
processing technology provided by ION.
The Cairo seismic processing facility is
staffed by Guide geophysicists supported
by GX Technology experts in
state-of-the-art data processing equipment,
algorithms and workflows.
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"We believe that the
collectiveprocessing experience of Guide
and GXT, including our
advancedtechnologies and specialist
personnel, will offer our clients in the
region the highest quality seismic
images available," stated Nick Bernitsas,
Senior Vice President of GXT Imaging
Solutions. "This partnership displays
our commitment to expanding the global
reach of our processing capabilities so
they are readily accessible to our
clients in key petroleum centers around
the world."
Guide's Chief Executive Officer, Adel
Nasser, commented, "We look forward to
leveraging this major business
opportunity and bringing GXT's
experience and expertise to North
Africa. Since GGT was established in
2005, we have rapidly expanded in the
highly competitive Egyptian market.
Developing business strategies based on
technical excellence and the
understanding of customer's needs has
allowed us to tackle the most complex
imaging projects in the region. The new
Guide-ION venture will be a valuable
asset for the further expansion of GXT
and Guide in Egypt and throughout the
North Africa region."
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About ION
ION is a leading provider of geophysical
technology, services, and solutions for
the global oil & gas industry. ION's
offerings allow E&P operators to obtain
higher resolution images of the
subsurface to reduce the risk of
exploration and reservoir development,
and enable seismic contractors to
acquire geophysical data more
efficiently. Additional information
about ION is available at:
http://www.iongeo.com
About Guide
Guide Geoscience Technologies
specializes in seismic data processing
and integrated high-end geophysical
technologies used in oil & gas
exploration and development. Guide
offers unique geophysical expertise
through the integration of
state-of-the-art analysis, solutions,
and world-class expertise to improve the
integrity of seismic data, enhance
hydrocarbon production, and find
additional reserves in mature fields.
Additional information about Guide
Geoscience Technologies is available at: http://www.guidegeoscience.com
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