OYO Geospace (OYOG) Announces New $14.9 Million Contract with BC-10 Consortium
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OYO Geospace (NASDAQ: OYOG) has entered into a contract for $14.9 million with the BC-10 Consortium, operated by Shell Brasil Petróleo Ltda, to provide over 100 kilometers of deepwater seabed seismic reservoir monitoring system for the BC-10 Field off the coast of Brazil.
The system will be laid on the sea floor in 1,700 meters water depth. The company expects to recognize revenue from the sale and delivery of the system in the first quarter of fiscal year 2013. BC-10 is a joint venture operated by Shell Brasil Petróleo Ltda (50%), with partners Petrobras (35%) and ONGC (15%).
The system will be laid on the sea floor in 1,700 meters water depth. The company expects to recognize revenue from the sale and delivery of the system in the first quarter of fiscal year 2013. BC-10 is a joint venture operated by Shell Brasil Petróleo Ltda (50%), with partners Petrobras (35%) and ONGC (15%).
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