ARKeX & ION Complete Largest Ever Multi-Client Offshore Gravity Gradiometry Survey

August 6, 2012

ARKeX, the provider of non-seismic geophysical imaging services, has recently completed an airborne Full Tensor Gravity Gradiometry (FTG) survey offshore Greenland for ION Geophysical. The 50,000 sq km multi-client survey is the largest single offshore FTG survey ever carried out.

The survey takes in key areas of the pre-round blocks that are on offer to the KANUMAS group and in addition, the ordinary round blocks that will be offered in Greenland’s 2013 license rounds. The FTG data is currently being integrated and jointly interpreted with ION’s 2D Northeast GreenlandSPAN^TM program to provide a better understanding of the structural development of the region. The interpretation is expected to be completed by September 2012 and the report along with the data will be available to licence on a non-exclusive basis.

The NE Greenland region is estimated to contain 31.4 BBOE resources by the USGS (2008).The extensive NE Greenland continental shelf is the conjugate margin to Norway and the Barents Sea and is expected to contain the same rich Jurassic oil-prone source rocks.

Phill Houghton, VP New Ventures, ARKeX commented “Acquiring 3D seismic in the North East Greenland is extremely challenging due to the extensive ice covering. ARKeX’s airborne FTG survey can provide a 3D image set that once integrated with ION’s 2D GreenlandSPAN, will afford potential operators in the region with the clearest picture to date of the area’s potential.”

Joe Gagliardi, ION’s Director of Arctic Solutions and Technology, added, “ION is pleased to have the opportunity to partner with ARKeX on this important program, which leverages both ION’s understanding of the regional geology and basin structural components from our extensive, 55,000 km ArcticSPAN^TM 2D data library, and ARKeX’s Gravity Gradiometry technologies and expertise.  By linking the regional 2D data with full-tensor gravity gradiometry data, oil & gas companies who are assessing the prospectivity of these areas can accelerate the normal exploration lifecycle, bypassing the recon 3D phase to focus directly onto their prospects of interest.”

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About ARKeX

ARKeX is a provider of non-seismic geophysical imaging services for the oil & gas exploration industries. It specialises in the acquisition of multi-client and proprietary Full Tensor Gravity Gradiometry (FTG) data. FTG surveys measure minute variations in the earth's gravitational field to help image subsurface structures. FTG has a much higher bandwidth and delivers a higher resolution image than conventional gravity surveys. It can be used as a stand alone service or in conjunction with seismic data. ARKeX can also process and interpret conventional gravity and magnetic data as well as brokering multi-client non-seismic data. Based in Cambridge, UK, ARKeX has offices in Sherington, UK, and Houston, USA, and has global operational capabilities. www.arkex.com

About ION

ION Geophysical Corporation is a leading provider of geophysical technology, services, and solutions for the global oil & gas industry. ION's offerings are designed to allow E&P operators to obtain higher resolution images of the subsurface to reduce the risk of exploration and reservoir development, and to enable seismic contractors to acquire geophysical data safely and efficiently. Additional information about ION is available at www.iongeo.com.

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