BGP Selects ION to Outfit New 3D Seismic Vessel

ION Geophysical Corporation announced that it has signed a contract with BGP, Inc., China National Petroleum Corporation, one of the world's leading seismic contractors, to outfit their new flagship, 12-streamer vessel, the Prospector, with ION's DigiSTREAMER (TM) seismic data acquisition system. ION plans to deliver the system by the end of the year.

ION and BGP have a history of collaboration, in both land and marine seismic data acquisition. Last year, ION outfitted BGP's 2D Challenger vessel with a number of systems from its portfolio of Intelligent Acquisition [IA](TM) marine seismic acquisition technologies.

Mr. Zheng Huasheng, Vice President of BGP, Inc., China National Petroleum Corporation, commented, "In March 2010, ION and BGP joined forces to create a new land seismic equipment joint venture company, INOVA Geophysical Equipment Limited, and BGP became ION's largest shareholder through its purchase of 16.6% of ION's common stock. This demonstrated infinite opportunities for more extensive cooperation between ION and BGP in the future."

Dave Moffat, Senior Vice President of Marine Imaging Systems at ION, added, "I am delighted that BGP has selected DigiSTREAMER for their latest seismic vessel. ION is dedicated to minimizing the impact and footprint of our clients' seismic operations around the world by providing breakthrough technologies such as DigiSTREAMER. We look forward to working with BGP to maximize the benefit of our technologies in the field and collaborating more closely as they expand their marine operations and capabilities in the coming years."

ION's DigiSTREAMER system is designed to enable contractors to acquire marine seismic data in a cost-effective, environmentally friendly manner. The solid gel design allows for reduction of noise and risk while continuously recording broad bandwidth data in a wider weather window for high productivity, safety, and data quality.