NXT Completes SFD Aerial Survey Contract For Pemex, Commences Survey Contract In South Asia
- Published: Thursday, 20 December 2012
- Author: Maurice Smith
CALGARY, Alta. -- NXT Energy Solutions Inc. announces completion of its US$5.8 million SFD aerial survey contract with Petrolēos Mexicanos (Pemex), the national oil company of
Shortly after its commencement, the value of the Pemex project was expanded in September from US$4.7 million to US$5.8 million. NXT completed delivery to Pemex of its findings and recommendations report in
Certain areas covered by the SFD survey already had 2-D and/or 3-D seismic data and/or existing full-tensor gravity gradiometer (FTG) coverage and Pemex designed the survey flights to provide adequate SFD coverage over these areas. Data integration of seismic, gravity and other geological and geophysical data with NXT's SFD data is currently being finalized with Pemex in
NXT has now invoiced the remaining balances due on the US$5.8 million project, with final payments to NXT totaling US$2.8 million scheduled to occur on Dec. 31.
"I am proud of our rapid delivery of the Pemex project, our largest single contract to date," noted George Liszicasz, NXT's president and CEO. "We have worked diligently with Pemex personnel in our
NXT also announced it has recently commenced data acquisition operations for its US$2.66 million South Asia SFD aerial survey project. This previously announced contract is with a major national oil company and is expected to be completed and delivered to the client before the end of Q1-2013.
"We are pleased that we have now commenced this contract, after a lengthy government approval process," noted Liszicasz. "Following completion of our recent contract for Pemex in
NXT is a