ION Geophysical Corp. (NYSE: IO) has been awarded an extension to its existing multiyear contract with Pemex, ION said in a news release.
Under this contract, ION said it is providing a broad range of seismic data processing for multiple offshore and onshore surveys. The work will be executed via ION’s Villahermosa, Mexico, and Houston offices and through its Houston high performance computing center.
ION will utilize its proprietary imaging technologies to process seismic data acquired on behalf of Pemex, including in deepwater regions of the Gulf of Mexico, in highly complex subsalt areas, and in various onshore regions throughout Mexico, the release said. The scope of services includes velocity model building, pre-stack depth migration using both beam migration and high frequency reverse time migration (RTM) techniques, and ION’s latest advancements in full waveform inversion and orthorhombic tomography.
Through their presence in Villahermosa, ION professionals will closely collaborate with their Pemex counterparts to accelerate the identification of new exploration leads and development drilling targets, the release said.
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