Under the terms of the contract, Caspian Geophysical will supply a variety of conventional towed streamer and 3D, four-component (4C), marine acquisition and processing services for future seismic projects within any production sharing agreement areas operated by BP.

Caspian Geophysical will be the first contractor to mobilise ocean-bottom cable equipment designed for large-scale 4C seismic surveys within the Caspian region. The 4C surveys will provide additional subsurface information around gas-invaded sediments near mud volcanoes prior to field development. A 4D, or time-lapse, seismic survey is also planned to assist in analysis of reservoir fluid depletion. Surveys are scheduled to commence in the first and second quarters of this year and will continue into 2003.