HOUSTON, June 12, 2017 /PRNewswire/ -- ION Geophysical
Corporation (NYSE: IO) and Petroleum Geo-Services (PGS) today
announced a joint agreement for ION to continue supplying
Orca® software to PGS' fleet for another five
years. This contract extends the parties' technology
partnership in marine command and control solutions to over 30
years.
Orca seamlessly integrates and manages data and workflows for
seismic data acquisition, enabling geophysical service providers to
control operations in the most safe, efficient manner in
increasingly diverse modes of acquisition. The system
streamlines visibility and control to powerfully execute
challenging geometries and multi-vessel operations while delivering
simple, efficient processes for 2D, 3D and 4D acquisition.
Orca's automated workflows are designed to significantly improve
seismic operational efficiency through reduced downtime, minimal
infill, lower costs, and shorter cycle time.
"PGS remains committed to being the technology leader in marine
seismic acquisition," stated Per Arild Reksnes, EVP of Operations
at PGS. "We have been using Orca for many years and the quality of
the product and customer service provided by ION is important to
our operations. PGS' major advances in offshore seismic
acquisition technology have been well supported by corresponding
developments in the Orca platform, including interfaces to our
proprietary GeoStreamer marine seismic system. A new,
long-term agreement requires cooperation on a robust product
roadmap, and we are pleased that Orca will support PGS' unique
vision for the future."
"We're pleased to continue our long-standing collaboration with
PGS on our industry's leading platform for command and control,
which continues to enable improvements in both safety, precision
and efficiency across the marine seismic acquisition workflow,"
said Chris Usher, EVP of ION's
E&P Operations Optimization group. "This deal secures our
market leadership, and is a foundation for working with a leader in
marine seismic acquisition to extend the value of the Orca solution
from ship to shore and to comprehend multiple simultaneous
operations within the survey area."
To learn more, visit iongeo.com/Orca.
About ION
ION is a leading provider of technology-driven solutions to the
global oil and gas industry. ION's offerings are designed to help
companies reduce risk and optimize assets throughout the E&P
lifecycle. For more information, visit iongeo.com.
About PGS
Petroleum Geo-Services (PGS) is a focused marine geophysical
company that provides a broad range of seismic and reservoir
services, including acquisition, imaging, interpretation, and field
evaluation. The Company's MultiClient data library is among the
largest in the seismic industry, with modern 3D coverage in all
significant offshore hydrocarbon provinces of the world. For
more information on Petroleum Geo-Services, visit www.pgs.com.
Contacts
ION (Investor relations)
Executive Vice President and Chief Financial Officer
Steve Bate, +1 281.552.3011
steve.bate@iongeo.com
ION (Media relations)
Vice President, Communications
Rachel White, +1 281.781.1168
rachel.white@iongeo.com
PGS
Vice President IR & Corporate Communications
Bård Stenberg, +47 992 45 235
bard.stenberg@pgs.com
The information herein contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements may include information and other
statements that are not of historical fact. Actual results may vary
materially from those described in these forward-looking
statements. All forward-looking statements reflect numerous
assumptions and involve a number of risks and uncertainties. These
risks and uncertainties include risks associated with the timing
and development of the Company's products and services, the
competitiveness of offers, pricing pressure, decreased demand, and
changes in oil prices; and political, execution, regulatory, and
currency risks. Additional risk factors, which could affect actual
results are disclosed by the Company in its fillings with the
Securities and Exchange Commission ("SEC"), including its Form
10-K, Form 10-Q and Form 8-Ks filed during the year. The Company
expressly disclaims any obligation to revise or update any
forward-looking statements.
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SOURCE ION Geophysical Corporation