Statoil, Geospace proceed with seabed seismic offshore Norway

Offshore staff

HOUSTON – Geospace Technologies Corp. (NASDAQ: GEOS) has received a letter of award from Statoil to provide 660 km (410 mi) of seabed seismic reservoir monitoring systems for the Snorre and Grane fields on the Norwegian continental shelf.

The company estimates the contract value at $160 million.

Formal contract signing is expected later this month.

11/09/2012

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