WesternGeco, Schlumberger’s seismic business segment, and Integra Group will form a joint venture, IG Seismic Services, under a new agreement.
The joint venture will provide land seismic acquisition services and interpretation and data processing in Russia, Kazakhstan, Uzbekistan and Turkmenistan and their respective transition zone waters.
WesternGeco will hold a minority stake of 25% in the venture through the contribution of its land and transition zone seismic and data processing business in the countries, as well as cash and access to certain proprietary Q technology and Omega data processing software.
Integra will be responsible for the venture’s daily management, and key strategic and investment decisions will be made by the joint venture board with input from WesternGeco.
Integra chief executive officer Antonio Campo said the agreement will boost the service range and expand the market presence of its core seismic segment.
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