ION awarded exclusive agreement for 3D multi-client programs offshore Kenya
April 08 2021 - 04:15PM
ION Geophysical Corporation (NYSE: IO) today announced that the
Company was awarded an exclusive agreement for 3D multi-client
programs offshore Kenya. The agreement includes both 3D new
acquisition offshore the Lamu Basin and reimaging vintage data
offshore Kenya. Offshore Kenya is an attractive area with a proven
petroleum system; however, it has remained underexplored, in part
due to lack of available 3D data. The final shape and size of new
3D programs will be dictated by client input and underwriting.
“We are pleased Kenya’s Ministry of Energy and
Petroleum selected ION to increase the understanding and promote
the hydrocarbon potential of these offshore resources to attract
future investment,” said Joe Gagliardi, Senior Vice President of
ION’s Ventures group. “The program will leverage our extensive data
library and knowledge offshore Kenya and East Africa. In an
increasingly competitive environment for seismic data, we have
geographic exclusivity in a promising, underexploited geography to
execute our 3D strategy, for both new acquisition and reimaging
programs. Kenya represents a fourth significant opportunity to
diversify our successful 3D reimaging, in addition to Mexico,
Brazil and Mauritania.”
To learn more, visit iongeo.com/Kenya3D.
About ION
Leveraging innovative technologies, ION delivers
powerful data-driven decision-making to offshore energy and
maritime operations markets, enabling clients to optimize
investments and results through access to our data, software and
distinctive analytics. Learn more at iongeo.com.
Contacts
ION (Investor relations)
Executive Vice President and Chief Financial
OfficerMike Morrison, +1 281.879.3615 mike.morrison@iongeo.com
ION (Media relations)
Vice President, CommunicationsRachel White, +1
281.781.1168rachel.white@iongeo.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 the risks
associated with the timing and development of ION Geophysical
Corporation’s products and services; pricing pressure; decreased
demand; changes in oil prices; agreements made or adhered to by
members of OPEC and other oil producing countries to maintain
production levels; the COVID-19 pandemic; our ability to complete
the Restructuring Transactions and other related matters in a
timely manner, if at all; and political, execution, regulatory, and
currency risks. For additional information regarding these various
risks and uncertainties, see our Form 10-K for the year ended
December 31, 2020, filed on February 12, 2021, and our Form S-1 and
Form S-4, each filed on January 29, 2021, and amended on February
12, 2021 and March 3, 2021. Additional risk factors, which could
affect actual results, are disclosed by the Company in its filings
with the Securities and Exchange Commission (“SEC”), including its
Form 10-K, Form 10-Qs 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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