Integra and Western Geco form joint venture

Integra, an onshore oilfield services provider, and Western Geco, the seismic business segment of Schlumberger, has announced agreement on the principal terms of an exclusive seismic joint-venture company, to be known as IG Seismic Services.

The joint venture will provide land seismic acquisition services, as well as interpretation and data processing in Russia, Kazakhstan, Uzbekistan and Turkmenistan, and their respective transition-zone waters.

Western Geco will become a minority shareholder in the venture, with a 25 per cent stake through the contribution of its land and transition-zone seismic and data-processing business in the aforementioned countries, together with cash and access to certain proprietary Q technology and Omega data-processing software.

Day-to-day management of the venture is expected to be performed by Integra, while key strategic and investment decisions will be made by the board of the joint venture, with input from Western Geco.