GX Technology signs joint operating agreement with Suelopetrol

GX Technology Corporation (GXT), a subsidiary of Input/Output Inc., announced the signing of a joint operating agreement (JOA) with Suelopetrol, a leading provider of exploration and production services to the oil and gas industry in Latin America. Under the agreement, the two companies will provide advanced seismic imaging services to national and multinational companies operating in Venezuela, Colombia, Bolivia and Ecuador.

Nick Bernitsas, senior vice president of data processing at GXT, commented, "This agreement allows GXT to provide high-quality processing and imaging services throughout the northern half of South America and takes advantage of Suelopetrol's recognized presence and expertise in the local seismic services market. This agreement also reinforces our commitment to closely align our resources with the needs of our global customers and deliver high-quality images in shorter time periods."

The agreement covers seismic imaging services, including prestack time migration and prestack depth migration, to be performed at the Suelopetrol/GXT advanced processing center located in Caracas. Under the JOA, the two companies will also have access to the existing computer infrastructure of GXT in Houston should additional computing resources be required for a specific project. GXT currently maintains nearly 100 terraflops of processing power at its Houston advanced imaging center.