GEOTECH Holding and NOVATEK Signed an Agreement for Seismic Exploration Using UniQ Technology
GEOTECH Holding JSC, the leading pure- play land and transition zone seismic company in Russia and the CIS, announces that GEOTECH Holding JSC (the managing company for IGSS assets) and NOVATEK OJSC signed an agreement for seismic exploration works, using UniQ technology. GEOTECH Holding JSC (the managing company for IGSS assets) and NOVATEK OJSC
have signed an agreement for seismic exploration works, using high density innovative UniQ technology at the North-Russkoye license area at Yamal. The agreement envisages conducting field seismic exploration and provision of expert recommendations. The agreement envisages seismic surveys of high resolution, that will result in producing detailed images of target horizons. The works will be conducted during winter season of 2013-2014 and will last for two calendar months. The challenge of the North-Russkoye site is that the upper part of the section includes permafrost layers of complicated geological structure, that distort multiwave seismic field within the range of target horizons. At the same time the target body has a thin-layer multilayer section which requires especially high quality of seismic data to provide for building a correct geological hydrodynamic model and, consecutively, for successful deposits development. The UniQ technology, developed by Schlumberger, has no analogous comparisons in the world. It is a complex combination of both geophysical equipment and software, designed to help with the efficient exploration of oilfield resources with a high resolution of data. GEOTECH Holding has an exclusive right to provide the UniQ technology services at the territory of the Russian Federation and CIS.