ARKex acquiring FTG data offshore Greenland

Projects and Operations - April 30, 2012

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ARKeX, a provider of non-seismic geophysical imaging services, in conjunction with ION Geophysical Corporation, has announced the commencement of a new multi-client full tensor gravity gradiometry (FTG) survey offshore Greenland.

The 50,000km2 (30,000 line km) survey will cover a substantial portion of the pre-round blocks that are on offer to the KANUMAS group and the ordinary round blocks that will be offered next year as part of Greenlandís ongoing license rounds.

With reserve estimates of 8.5 billion BOE, 80.4 trillion cf of gas, and 8.5 bb of natural gas liquids, the region offshore northeast Greenland is very attractive to E&P companies.

The FTG data will be incorporated with IONís 2D Northeast GreenlandSPAN programme to build a 3D structural model of the area, giving exploration companies valuable geologic information on which to base their exploration decisions.

The data is due to be available in the third quarter of 2012.


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