Additional information following the New Year’s reception of Fugro

In this press release you will find additional information on the announced project in Brazil and the changes in the division structure.

Leidschendam, The  Netherlands
08 Jan 2009

New order in Brazil

Fugro Brasil Ltda. has been awarded a deep water drop coring project for the ANP (National Oil & Gas Agency) Jacuípe basin development plan, in the northeast of Brazil. The project requires satellite imagery acquisition, processing and interpretation, review of 3D seismic profiles, identification/stations selection, and recovery of 1,000 drop cores in water depths up to 3000m.

Total project duration is 12 months, with field work expected to take about 5 months.

Fugro Brasil Ltda. has already successfully conducted similar projects for Para/Maranhão basin and Pelotas basin, also for ANP, apart from several other projects for different clients. Total contract value is approximately EUR 6 million.

Changes in structure

As per 1 January 2009, the following changes will take place within the existing three division structure:

Survey division

  • The ROV activities (with in the meantime about 125 ROVs) are split off from Offshore Survey and will form a new business line: Subsea Services.
  • The satellite positioning activities, now partly in Offshore Survey and partly in Geospatial Services, are combined as Positioning group in Offshore Survey.

Geoscience division

The business line Development en Production (D&P) is split up into two parts:

  • The seismic activities (data acquisition, processing and multi client) become a separate business line, named Seismic Services.
  • The other activities of D&P, including data storage, reservoir modelling and geological consultancy, will continue under the name Information Services.
  • The services portfolio of Airborne is extended with amongst others gravity and electromagnetic surveying at sea. This business line will continue as General Geophysical Services, with services focused on exploration, for both mining and the oil and gas industry.

In view of the above, Mr. Hans Meyer and Mr. Jim Sommerville will join the Executive Committee as Chief Operating Officer for respectively Seismic Services en Subsea Services.

For more information

Media

Edward Legierse
media@fugro.com
+31 (0) 70 31 11129

Investors

Catrien van Buttingha Wichers
c.vanbuttingha@fugro.com
+31 703 115 335

 

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