PXGEO has completed acquisition of the Seabed Geosolutions OBN business from Fugro The deal includes a substantial ocean bottom node inventory, handling equipment, related technology, intellectual property and project backlog.
PXGEO has completed acquisition of the Seabed Geosolutions OBN business from Fugro
The deal includes a substantial ocean bottom node inventory, handling equipment, related technology, intellectual property and project backlog. A ‘significant’ number of personnel responsible for delivery of more than 44,000 km2 of OBN projects will join PXGEO.
Duncan Eley, CEO of PXGEO, said: ‘This is a key milestone for PXGEO, enabling us to provide both towed streamer and OBN geophysical services to our global client base. The acquisition brings an important portfolio of proprietary OBN technology to the company. PXGEO is currently engaged on two flagship projects: an OBN crew and assets deployed in South America; and the PXGEO 2, our 14-streamer seismic vessel, acquiring data on a 4D project in East Asia. Both projects have mobilized.’
Meanwhile, PXGEO has agreed with TGS to provide 12 months of towed-streamer seismic acquisition services. TGS has committed to utilizing the vessel PXGEO 2 ‘or any other capable vessel that PXGEO introduces to its fleet for 12 months of marine seismic acquisition services over a two-year period from October 2021’.
