NXT Energy Solutions Executes $13.4m Sfd Survey Contract

Source: www.gulfoilandgas.com 5/12/2015, Location: South America

NXT Energy Solutions Inc. is pleased to advise that it has now executed the formal binding contract previously announced on April 16, 2015 for US $13.4 million.

NXT Energy notes that the contract is with a new client, Yacimientos Petroliferos Fiscales Bolivianos (YPFB), which is the National Oil Company of Bolivia.

It is anticipated that the aerial Stress Field Detection ("SFD") survey project will commence in May, 2015, pending receipt of customary local permits. As part of the contract, NXT Energy will receive a 20% deposit advance at commencement of the project.

George Liszicasz, President and CEO of NXT Energy, noted we are very proud to have received this significant contract with YPFB, one of the major NOCs in South America. Given the large frontier areas in Bolivia, we view this project as the first step in building a strategic long-term partnership with YPFB and its subsidiaries, and are looking forward to undertaking this exciting new project.


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Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


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