ION awarded five-year contract with Brunei Shell Petroleum

HOUSTON, April 20, 2022 (GLOBE NEWSWIRE) — ION Geophysical Company (NYSE: IO) introduced immediately that it has been awarded a five-year contract by Brunei Shell Petroleum Co. (BSP), a three way partnership between the Authorities of Brunei and Shell, for a digital resolution to handle Marine Logistics. The answer shall be delivered using the Marlin^TM software program suite and can embrace vessel monitoring, berth administration, and visible reporting instruments for materials provide workflows. The answer will digitize plenty of handbook processes and also will interface with present instruments, enhancing BSP’s capacity to make knowledgeable selections while managing its fleet of greater than 70 vessels servicing over 200 offshore constructions.  

Processes similar to planning, scheduling, routing, monitoring of arrivals and departures, and automating port calls, perform with a number of handbook processes and techniques throughout numerous of the marine logistics groups, demonstrating how highly effective digitizing and streamlining the workflows are. By means of the power to share and visualize data for your entire working space in a single system throughout groups, QHSE and operational efficiencies are improved, which might result in reductions in gas consumption, emissions, and BSP’s general carbon footprint.   

“We’re thrilled to have the ability to embark on this journey with BSP, to see them turn out to be a frontrunner in digital integration of Exploration and Manufacturing Marine Logistics,” stated Stuart Darling, Senior Vice President of ION’s Software program group. “With each engagement, our objective is to show glorious service high quality; we’re delighted that our resolution was chosen as a part of a aggressive tender course of. By working intently with BSP over the subsequent 5 years, we intend to leverage Marlin’s sturdy, cloud-based infrastructure, to digitize as many workflows as potential to make sure BSP reaps most worth from their funding.”

About ION
Leveraging progressive applied sciences, ION delivers highly effective data-driven decision-making to offshore power and maritime operations markets, enabling purchasers to optimize investments and outcomes by entry to our knowledge, software program, and distinctive analytics. Be taught extra at iongeo.com.

The knowledge herein incorporates sure forward-looking statements inside the which means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Change Act of 1934. These forward-looking statements could embrace data and different statements that aren’t of historic reality. Precise outcomes could differ materially from these described in these forward-looking statements. All forward-looking statements mirror quite a few assumptions and contain plenty of dangers and uncertainties. These dangers and uncertainties embrace the dangers related to the timing and growth of ION Geophysical Company’s services and products; pricing stress; decreased demand; adjustments in oil costs; agreements made or adhered to by members of OPEC and different oil producing nations to take care of manufacturing ranges; the COVID-19 pandemic; the final word advantages of our accomplished restructuring transactions; political, execution, regulatory, and foreign money dangers; the end result or adjustments, if any, of our consideration of assorted strategic alternate options; and the influence to our liquidity within the present unsure macroeconomic atmosphere, together with the struggle in Ukraine. For added data relating to these numerous dangers and uncertainties, see our Kind 10-Ok for the yr ended December 31, 2020, filed on February 12, 2021, and our Types 10-Q for the quarters ended March 31, 2021, June 30, 2021, and September 30, 2021, filed on Might 6, 2021, August 12, 2021, and November 3, 2021, respectively. Further danger elements, which might have an effect on precise outcomes, are disclosed by the Firm in its filings with the Securities and Change Fee (SEC), together with its Kind 10-Ok, Kind 10-Qs and Kind 8-Ks filed throughout the yr. The Firm expressly disclaims any obligation to revise or replace any forward-looking statements.