Geokinetics Successfully Concludes Caspian Sea Transition Zone Project
Program sets new milestones for spread size and production rates
HOUSTON - Feb. 15, 2017 - PRLog -- Geokinetics Inc, a provider of integrated seismic data acquisition processing and reservoir analysis solutions (the Company), recently completed a large Ocean Bottom Node (OBN) and Transition Zone project in the Caspian Sea, during which the Company achieved a series of production, efficiency and safety milestones in an extremely challenging environment.
Throughout the multiple phases of this complex project, Geokinetics Crew 471 set new records, including:
• Deployment of its largest ever marine spread, with the active receiver patch covering a surface area of over 134 square km and with more than 700 km of receiver line deployed.
• Achieved a new Company milestone in source productivity, acquiring over 10,000 source points in a single day.
Making these achievements even more remarkable, the project area included one of the busiest ports in the Caspian Sea, requiring close cooperation with the client, their partners and the national maritime authorities.
David Crowley, President and CEO of Geokinetics, stated, "This has been a unique project across a range of operational settings, from congested ports, to uncharted waters, and through cities, towns and villages. We're very proud that Geokinetics' commitment to safe and conscientious operations resulted in accumulating over 1.5 million man-hours on the project without a single LTI or environmental incident."
The Caspian Sea transition zone project was managed by Geokinetics' Seafloor Operations Group (SFO), which acquires seafloor seismic data from beach to deepwater anywhere in the world, in all geologic environments and is comprised of a fleet of specialized proprietary vessels and a fully nodal recording system.
"This project required constant focus on forward planning and risk management in order to operate without compromising the safety of the crew and in strict adherence to the multiple mitigation measures put in place to ensure minimal impact to the area and local environment,"
About Geokinetics Inc. http://www.geokinetics.com/
Headquartered in Houston, Texas, Geokinetics is one of the world's largest independent land and seafloor geophysical companies. The company is an international seismic contractor that specializes in acquiring and processing seismic data from some of the toughest and most challenging environments in the world. Geokinetics has expertise covering high land onshore through the transition zone and across the offshore seafloor. With its worldwide operating experience, comprehensive global resources and in-depth capabilities, Geokinetics offers the most innovative, cost-effective and efficient acquisition and processing solutions. Geokinetics' Multi-Client Survey Library consists of both 2D and 3D data, covering conventional and unconventional plays throughout North America, Brazil and Mexico.
All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include Geokinetics' reliance on a cyclical industry and principal customers, Geokinetics' ability to continue to expand markets for licensing of data, and Geokinetics' ability to acquire and process data product at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. Geokinetics undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.
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