Adnoc Review II

ONGC deal awarded

Input/Output Inc has been awarded a contract to provide 14, state-of- the-art land seismic imaging systems to Oil and Natural Gas Corporation Limited (ONGC), the national oil company of India.

Each system includes a pre-specified number of VectorSeis(R) digital, full-wave sensors as well as analog geophones. In total, I/O will be providing nearly 20,000 VectorSeis sensors to ONGC.
Bob Peebler, president and CEO of I/O, stated, “This award represents the largest single sale of land acquisition systems and VectorSeis in the history of I/O. As far as we know, it is also the largest single land systems award in the history of the industry.
“We are delighted that ONGC sees the potential for full-wave seismic imaging and selected us to be their full-wave provider in this highly competitive tender. With this purchase, ONGC will become the largest user of full-wave technology in the world.
“The ONGC purchase, combined with previous VectorSeis sales to other contractors, now means that I/O has supplied roughly 80% of all the full-wave imaging technology used in land acquisition worldwide.
“As a company, we are committed to leading the industry’s adoption of full-wave solutions and to helping ONGC realise the maximum potential from the technologies included in this contract.”
The ONGC contract award is worth in excess of $60 million. Deliveries of the 14 systems will occur during the second and third quarters of 2007.
I/O cable-based land acquisition systems are purpose-built to maximise seismic crew productivity, ensure reliable, error-free recording, and enable high channel count surveys using either full-wave VectorSeis sensors or analog geophones.
VectorSeis sensors utilize digital, 3-C MEMS (micro-electro- mechanical systems) accelerometer chips to more accurately sample the true seismic wavefield and deliver broadband, high resolution images of the subsurface.