SAExploration announces US$83 million of new project awards

SAExploration Holdings Inc. has announced five new project awards for onshore logistical support and seismic data acquisition services in North and South America, collectively valued at approximately US$83 million. All five projects are scheduled to be performed during 1H16.

Two of the projects will take place in the jungle rainforest of South America, and the remaining three projects located in Alaska. All five projects will cover different terrain and require specialised knowledge of the surrounding environments. SAE will provide a full suite of in-house logistical services in advance of and throughout the life of these projects.

Brian Beatty, President and CEO of SAE, commented: “We are very pleased to have received these project awards, despite the increasingly difficult market conditions we are experiencing. While our overall visibility has been reduced, causing the lead time in advance of project awards to decrease, we are excited to see an improvement in the stability and consistency of opportunities in many of our core markets. Our focus remains on maximising cash flow and preserving liquidity.”

Edited from press release by Angharad Lock

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/21012016/saexploration-announces-five-new-projects-2229/