20 November 2003 11:15
Input/Output to Provide Full Wave Imaging(TM) Technology to PetroAlliance
HOUSTON, Nov. 20 /PRNewswire-FirstCall/ -- Input/Output, Inc. and PetroAlliance Services Company Limited today
announced an agreement for PetroAlliance to purchase VectorSeis System Four technology for land seismic acquisition.
VectorSeis acquisition systems deliver higher quality seismic data for improved reservoir characterization and
time-lapse (4D) surveys.
"PetroAlliance's purchase of I/O's VectorSeis System Four illustrates another of our key investments
in next generation technology that will further build our leadership in the Russian market," said Andre Niziev,
PetroAlliance's Vice President of Seismic Operations. "VectorSeis enables us to deliver leading edge imaging
solutions for our customers while reducing cycle-time and cost through faster field deployment. As we expand our
partnership with I/O, we are positioned to deliver significant improvement in operational efficiencies and seismic image
quality, including providing our customers with an option to cost-effectively acquire full wave, multicomponent
data."
Jorge Machnizh, I/O's Chief Operating Officer, added, "Input/Output is very excited to expand our
partnership with PetroAlliance, a premier seismic acquisition contractor and a leader in this key market.
PetroAlliance's purchase of I/O's VectorSeis System Four supports our strategy to expand I/O's
international business and increase our penetration in hydrocarbon-rich regions such as the Former Soviet Union. Our new
and existing clients are already generating returns on their investment in VectorSeis digital technology by reducing
E&P risks, optimizing well placement, and maximizing production. I/O's technology provides geoscientists and
reservoir engineers with the highest confidence in their subsurface interpretations and reservoir management
decisions."
VectorSeis technology improves the resolution of seismic images and more accurately defines subtle hydrocarbon
accumulation features. VectorSeis enables seismic contractors to obtain best-in-class, single component pressure wave
data on behalf of their oil company customers, while also providing the flexibility to record full wave, multicomponent
data needed to take reservoir resolution to the next level of detail.
VectorSeis is I/O's technology platform for developing next-generation seismic acquisition systems for land,
seabed and in-well imaging. The all- digital acquisition systems have been proven in 60 surveys and more than 400
million traces worldwide.
Input/Output, Inc. is the major independent provider of seismic equipment and acquisition imaging technology for
land, marine, and seabed applications. In addition, through its GMG/AXIS group, I/O offers specialty seismic processing
services -- including anisotropic velocity modeling -- that allow oil companies to more accurately image subsurface
features in petroleum reservoirs. The company's technologies are applied in traditional 2D and 3D surveys along
with rapidly growing areas like time-lapse 4D reservoir monitoring and full wave, multicomponent data acquisition. I/O
has offices in the United States, Canada, Europe, China and the Middle East. Additional information about Input/Output,
Inc. is available at http://www.i-o.com/ .
PetroAlliance is one of Russia's largest service companies, providing a broad range of exploration and
development services for oil and gas fields in line with world standards. Additional information about PetroAlliance is
available at http://www.petroal.ru/ .
Contacts: Input/Output, Inc. Phone: +1.281.552.3000 Pamela Griffin - Corporate Communications PetroAlliance Services
Company Phone: (095) 797.93.93 Brad Eastman Chief Administrative officer INPUT/OUTPUT (281) 879-3605 Jack Lascar,
Partner Karen Roan, Vice President DRG&E / 713-529-6600 Input/Output, Inc.
CONTACT: Pamela Griffin, Corporate Communications, +1-281-552-3000, or Brad Eastman, Chief Administrative officer,
+1-281-879-3605, both of Input- Output, Inc.; or PetroAlliance Services Company Limited, +095-797-93-93; or Jack Lascar,
Partner, or Karen Roan, Vice President, both of DRG&E, +1-713-529-6600, for Input-Output, Inc.
Web site: http://www.i-o.com/ http://www.petroal.ru/
[CAIW [Corporate Announcements Intelligence Wire]] |
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