Norway seismic firm forms JV with China's BGP

Norwegian seismic surveys company Global Geo Services ASA said Monday it has signed an agreement in Singapore to establish the joint venture called Geo Bridge together with Chinese seismic surveyor BGP International.

Geo Bridge will initially target the seismic market in the Asia Pacific region with multi-client geophysical surveys as its priority area.

GGS and BGP said they have already established an extensive cooperation through joint investment in multi-client surveys in East Timor, JPDA jointly administrated between East Timor and Australia as well as East Java Sea.

The JPDA and East Java Sea surveys will be assigned to and will be carried out through Geo Bridge and will mark the start of a professional and ambitious combination of forces, the companies said.

BGP has stated its goal of entering the marine seismic market through an announcement made in November this year about commencing the rigging of a 6 to 8 streamer 3D vessel.(alex)