ION to conduct multi-client seismic survey in Libya

5/30/2014

ION to conduct multi-client seismic survey in Libya

HOUSTON -- ION Geophysical Corporation, in conjunction with North Africa Geophysical Exploration Company (NAGECO), has signed an agreement with the National Oil Corporation (NOC), the national oil company of Libya, to acquire 21,000 km of 2D seismic data in Libya.

Known as LibyaSPAN, the 2D multi-client survey will be acquired in multiple phases. Phase 1 is planned to encompass over 7,700 km of new high-end long-offset seismic data covering the entire Libyan offshore.

Jason Robinson, V.P. EAME for ION’s GeoVentures division, commented, “LibyaSPAN is designed to create a comprehensive picture of the Libyan geology, tying all of the major basins and providing the deep imaging essential to understanding new exploration plays. With the anticipation of future license rounds in Libya, the data will help oil and gas companies evaluate large regions and focus on those areas with the highest chance of success.”

Data acquisition is anticipated to commence in mid-2014, with data delivery planned for the end of 2014.

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