Geotrace and Wavefield Geophysical AS announce the signing of an agreement to supply onboard data processing and QC services

LONDON, UK - June 6th, 2006 - Geotrace and Wavefield Geophysical AS have announced the signing of a co-operation agreement whereby Geotrace will provide onboard data processing and QC services on all of Wavefield Geophysical AS’s fleet of 2D, and 3D vessels.

Using its proprietary software system and state-of-the-art PC cluster technology, Geotrace will provide a full range of QC and processing services including prestack imaging and advanced demultiple techniques.

Bill Schrom, CEO of Geotrace said “We are delighted to be working with a company like Wavefield Geophysical AS on this hugely significant project. It will allow a further expansion of Geotrace’s capabilities and assist Wavefield Geophysical AS with their data acquisition requirements”.

Rick Donoghue for Wavefield Geophysical AS said “This is an important development for both companies since it allows us to focus on our separate areas of expertise while offering our clients a complete package of seismic services.”

Wavefield Geophysical AS is a Norwegian upstream services company specializing in 2D and 3D marine seismic acquisition using towed streamer systems plus four component seabed systems, which are designed not only for conventional bottom cable acquisition but also for permanent installation over fields for continuous seismic monitoring.

For more information, contact Geotrace.