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RXT charter new seismic vessel
30 November 2006
The seismic company Reservoir Exploration Technology ASA (RXT) has entered into a long term charter for a second purpose built vessel which will be delivered in the first quarter 2009.
- Oil and gas companies have an increasing requirement for improved data quality for both exploration and improved oil recovery from existing fields. This has led to an increasing need for multi component seismic data acquisition. These purpose built vessels will add great capacity and flexibility in our drive to meet this growing market, Michael Scott, CEO in RXT, comments.
“Sanco Spirit” will be chartered from Norwegian Sanco Holding AS. Sanco will, in April 2008, also deliver the sister vessel “Sanco Star”, which was ordered earlier this year. The vessels are being built at Vaagland Båtbyggeri AS in Vågland, Norway.
As for “Sanco Star”, the time charter is for a period of five years, with options of five more. Both vessels will be rigged with state of the art seismic equipment to operate as combined shooting and cable handling vessels for multi component seafloor seismic data acquisition.
For further information and a presentation of the company, please contact CFO Odd Erik Rudshaug in RXT.
Cell : + 47 41612858
Reservoir Exploration Technology ASA (RXT) is a marine geophysical company specializing in multi component seismic sea-floor acquisition. Multi-component seismic solves several imaging challenges that cannot be resolved with towed streamer seismic, and targets improved oil recovery from existing fields. The technology also gives better data quality for exploration, and is also the solution where towed streamers are impractical due to high density of platforms and/ or shallow waters. The Company has offices in Oslo, London and Houston.
RXT has applied for listing at the Oslo Stock Exchange in December 2006. RXTs stock is currently listed at the Norwegian OTC.