ION Wins Tanzanian Survey

Wednesday, September 2, 2015

ION Geophysical was awarded a contract to shoot 4,058 km of 2D seismic, gravity, and magnetic data on blocks 4/1B and 4/1C offshore Tanzania. The award comes from Tanzania’s state-run firm TPDC and follows an international tender, number PA/031/2014-15/W/06, for a 2D multi-client survey, to be known as ‘TPDC Phase I 2015’, that is planned for Q4.

Blocks 4/1B and 4/1C are located offshore in Tanzania’s Rovuma Delta region.

“We are very excited on the commencement of this program, which is part of a broader campaign aimed at adding value to all of TPDC assets, both onshore and offshore,” Dr James Mataragio, Managing Director of TPDC, commented. “This survey and three other surveys carried onshore are 100% funded by TPDC. This marks an important step for TPDC, as a National Oil Company, to begin fully focusing on exploration, development and production. Blocks 4/1B and 4/1C are 100% owned and operated by TPDC, and this new seismic data will be used to assist TPDC with a competitive farm out process, details of which will be announced at a later date.”

Joe Gagliardi, Senior Vice President of ION’s Ventures group, added, “ION is delighted to have been awarded this contract, which represents a further phase of seismic acquisition, processing and interpretation services to be provided by ION in support of the government’s hydrocarbon exploration strategy.”

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