Bergen, Norway, 16 November 2006. Wavefield Inseis AS will fulfil its fleet expansion strategy by launching a new purpose built 3D seismic vessel. The new flagship, Geowave Endeavour, will be ready to commence operations in April 2008 and will be one of the most powerful and highest capacity seismic vessels in the world. The Volstad Maritime AS owned vessel will be built by Fosen Yard in Norway .

With 16 streamer capacity and eight gun strings, the vessel has been designed to meet the growing demand for high-density 4D seismic data and the need for wide-azimuth and multi-azimuth data acquisition. Built with the future in mind, the vessel also incorporates design elements that will allow it to accommodate new advances in acquisition technology and to provide techniques such as under-/over streamers and source configurations.

The 106m long and 26.6m wide 3D seismic vessel will be the fourth Wavefield Inseis high-capacity 3D vessel. With a maximum speed of 16 knots and a large streamer capacity, the Geowave Endeavour is destined to make a very significant impact in the market, which demands more efficient delivery of large high-density seismic data in order to meet the imaging challenges of the E&P industry.

“The Geowave Endeavour is in accordance with our strategy to become a global full service geophysical company, offering some of the most high performance vessels in the world,” said CEO Atle Jacobsen. “This vessel will be our flagship within a highly efficient and flexible seismic fleet.”

Company information

Wavefield Inseis is a Norwegian company providing a range of proprietary and non-exclusive multi-client marine geophysical services using highly specified vessels and the latest seismic equipment. From its main offices in Oslo and Bergen , Norway , Wavefield Inseis has a global reach, with activities in the Americas , Europe , Africa , the Middle East and Asia . The company was founded by a number of the most experienced people in the geophysical industry in order to provide a high quality range of services aimed at increasing the exploration success of its clients and to assist them in maximising production from their existing reservoirs.

Wavefield Inseis’ range of proprietary and non-exclusive Multi-client services includes long offset 2D, high capacity 3D, 4D, Multi-azimuth and Wide-azimuth data acquired with highly specified vessels and the latest seismic equipment. The company is also a full service permanent 4D acquisition provider and will, through a number of strategic alliances, bring new technologies to market to further accelerate and de-risk the replenishment of its clients' reserves.

www.wavefield-inseis.com

For further information, please contact:
Atle Jacobsen, CEO, Tel: +47 56 11 48 02
Erik Hokholt, CFO, Tel: +47 67 82 84 09

Press contact is Tom Miller at Vector Marketing Communications
Tel: +44 1442 877167
Email: tom.miller@vector.co.uk
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