Gente Oil Global subsidiary contracts ViaLogy for seismic interpretation work

AIM-listed geophysical imaging services provider ViaLogy has signed a contract with a subsidiary of Singapore-based upstream oil and gas company Gente Oil Global to apply its seismic interpretation technology, QuantumRD, to Ecuadorian properties in the Oriente Basin.

The company said it would focus on reservoir discovery, delineation, and development in Napo sandstone formations that had proven too complicated to understand through conventional interpretation.

The Oriente Basin of Ecuador is a producing field with nearly 3.0bn barrels recovered over the past 20 years. ViaLogy said that QuantumRD would be used to analyse 3D seismic and accurately characterize recoverable reserves from stratigraphic sandstone traps within structures associated with Andean faulting.

Robert Dean, Chief Executive Officer of ViaLogy, said: "We are pleased to be working with Gente Oil Global to support their drilling program in the Oriente Basin of Ecuador. This gives us a chance to bring some of the QuantumRD capabilities we have optimized for reservoirs in highly tectonic basins where both structural and stratigraphic elements are in play."

ViaLogy's share price was up 7.69% to 1.40p at 10:27 on Wednesday.

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