GeoRXT B.V., the joint venture between Georadar Levantamentos Geofísicos S/A and RXT, has been awarded its first contract in Brazil by Petróleo Brasileiro S/A to acquire OBC data over the Marlim and Marlim Leste fields.
The contract value is estimated to USD 103 million and commencement of the work is planned to take place in Q1 2012.
The project is estimated to take 12 months including a 45 days break to upgrade the equipment to be able to operate in deeper water.
Reservoir Exploration Technology ASA (RXT) is the only marine geophysical company specializing in multi component seismic seafloor acquisition.
Multi-component seismic solves several imaging challenges that cannot be resolved with towed streamer seismic, and targets improved oil recovery from existing fields.
The technology also gives better data quality for appraisal and development, and is also the solution where towed streamers are impractical due to high density of platforms and/or shallow waters. RXT has offices in Oslo, Norway in Abu Dhabi, UAE and Houston, Texas.
In addition RXT is represented in Brazil by GeoRXT, a joint venture between RXT and Brazilian Georadar Levantamentos Geofisicos S/A (Georadar) where RXT owns 45% and Georadar 55%.
[mappress] Subsea World News Staff , February 24, 2012; Image: RXT