SAExploration Announces Completion of First Major Deep Water Ocean-Bottom Marine Seismic Project

SAExploration Holdings, Inc. has announced that it has successfully completed its first major deep water ocean-bottom marine seismic project. The project, which was located in Southeast Asia and utilized an advanced remotely operated vehicle deployment method at water depths reaching 1,100 meters, was completed over a week ahead of schedule, leading to meaningful cost savings for the customer. Superior planning and project execution led to enhanced performance despite the challenging and complex operating conditions.

The consolidated effort of the vessels, data acquisition crew, and support personnel, in conjunction with the remotely operated vehicles, reliable nodal recording technology and SAE's proprietary deployment strategy, translated into high efficiency gains and greatly improved performance throughout the life of the project.

SAE specializes in providing ocean-bottom nodal acquisition services in water depths ranging from zero to 3,000 meters. Utilizing its proprietary deployment system, nodes connected by rope can be deployed in depths up to 1,000 meters. For water depths greater than 1,000 meters, and up to 3,000 meters, the nodes are deployed utilizing remotely operated vehicles. SAE's ocean-bottom seismic acquisition services can be performed in open water or around surface or subsurface infrastructure, which provides a much improved subsurface image of the geological structure. These services are beneficial to customers exploring for new oil and gas fields, as well as those seeking to enhance the performance of known reservoirs in existing fields.

Brian Beatty, President and CEO of SAE, commented, "We are very pleased with our performance on the largest and most complex ocean-bottom marine seismic project we've shot to-date. Our project management experience with coordinating complex programs and our technological expertise with ocean-bottom nodal recording systems resulted in the effective and proficient use of resources. We believe the successful completion of this project sufficiently illustrates our ability to reduce our customers' program costs and overall risk profile on shallow and deep water ocean-bottom marine seismic projects. We remain excited about the opportunities presented to SAE in this new market."