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The Arabian Geophysical and Surveying Co. (Argas) has been awarded two contracts worth a combined total of US$373 million that will see the company conduct offshore seismic surveys for the state-owned hydrocarbons giant Saudi Aramco.
Reuters reported that scope of work covered in the first contract involves Argas gathering seismic data at the offshore Zuluf oilfield in the Gulf and will start in November 2010. The study is expected to last two years.
The second will also be carried out in the Gulf, but Argas declined to give any further details.
Both surveys will be carried out using ocean-bottom cables which allow studies to be made in shallow waters and near oil platforms.
Zuluf is a large offshore field off the coast of the KSA. Industry insiders believe that the surveys could be the start of an Aramco programme to ramp up future production to 15 million barrels per day.
