Axxis Geo Solutions receives extension to Middle East OBN contract

Published by Nicholas Woodroof, Editor
Oilfield Technology, Friday, 20 March 2020 16:30

Axxis Geo Solutions has announced an extension to the MIddle East 3D ocean bottom node (OBN) seismic acquisition contract that it was originally awarded in December 2019. The additional work is estimated to be totalling 7 vessel months and will continue into 2Q20.

"This extension adds profitability and cash flow to the overall project, whilst offering our client a cost-effective addition to their venture. We also register that AGS' track record of safe and efficient operations continue to position us for future contract wins," said CEO Lee Parker.

"The added work, together with recently announced LOI for a North Sea contract, will be helpful in the ongoing process of strengthening the company's working capital," added Parker.

Read the article online at: https://www.oilfieldtechnology.com/exploration/20032020/axxis-geo-solutions-receives-extension-to-middle-east-obn-contract/

Balmoral Group completes sale of Comtec to Freudenberg Flow Technologies

Thursday 21 May 2026 11:45

Following the completion of the deal, Comtec will continue to operate as usual from its existing locations, with no immediate changes to its name, day-to-day activity, customer contracts, delivery schedules, staffing levels or points of contact.

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