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Mon 1 Mar 2010 08:39 PM

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Saudi Aramco seeks bids for Red Sea survey

Aramco plans to begin drilling in deeper offshore frontiers in 2012, CEO said.

Saudi Aramco seeks bids for Red Sea survey
SURVEY BIDS: Four companies are said to be bidding for a chance to conduct seismic surveys in the Red Sea. (Getty Images)

Four companies are bidding for a seismic survey in the Red Sea for state oil giant Saudi Aramco, industry sources said on Monday.

Norwegian surveyor Petroleum Geo-Services (PGS), WesternGeco, a unit of Schlumberger, Fugro NV and CGG Veritas are due to submit their bids in two weeks, sources told Reuters.

He said: "The invitation (to bid) is still active, everybody is studying their options."

A Fugro spokeswoman confirmed that the Dutch company had received an invitation to submit a proposal, without giving more details.

The "wide azimuth" seismic survey, due to start in September will be the first of its kind implemented in the Red Sea, a source close to the matter said.

Last week, the oil publication Upstream reported that PGS, WesternGeco, Fugro and CGG Veritas had been invited to bid for the survey of 14,000 square km, expected to be worth up to $200 million.

Aramco is planning to start drilling in deeper offshore frontiers in 2012, Aramco's chief executive Khalid al Falih said in November.

Falih then specified that Aramco plans to explore for oil and gas in the deep waters of the Red Sea off its eastern coast. (Reuters)

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