Hyundai Awards Thales GeoSolutions' China JV the Huizhou Survey Contract.Business Editors HOUSTON--(BUSINESS WIRE)--Oct. 16, 2003 Thales today announced that China Offshore Thales GeoSolutions (COTG), a 50/50 joint venture between China National Offshore Oil Corporation (CNOOC CNOOC China National Offshore Oil Corporation ) and Thales GeoSolutions in the Asia Pacific Region, has been awarded the survey contract for the Huizhou 19-3/2/1 development project by Hyundai Heavy Industries Co. Ltd (HHI HHI Herfindahl-Hirschman Index (measure of market concentration) HHI Heinrich Hertz Institut (Germany) HHI Hilton Head Island HHI Household Income HHI Hyundai Heavy Industries Co, Ltd ). Commenting on the award, Gordon Lyall, Assistant General Manager for COTG, said: "This is a very significant award for us as it is the second major contract awarded by Hyundai Heavy Industries to COTG this year, reflecting the high quality of our services previously delivered to HHI." The estimated $US1.2m contract will see Thales involved in performing pre-installation surveys, using both analogue geophysics and remotely operated vehicles Remotely operated underwater vehicles (ROVs) is the common accepted name for tethered underwater robots in the offshore industry. ROVs are unoccupied, highly maneuverable and operated by a person aboard a vessel. (ROVs), pipeline and structures installation support. The pre-installation survey phase will begin in October and run for an estimated four weeks. The pipeline and structures installation phase is expected to commence in March 2004 and run for approximately three months. The work will take place in the Huizhou field, which is located in Block 16/09 in the South China Sea, approximately 160km South East of Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and the mouth of the Pearl River Pearl River, uninc. village (1990 pop. 15,314), Rockland co., SE N.Y., near the N.J. line. It is a residential suburb of New York City, and a computer and telecommunications research and development center. Pearl River River, central Mississippi, U. . The block is operated by ACT Operators Group, consisting of China National Oil Corporation (CNOOC), Agip China BV, Chevron Overseas Petroleum Limited and Texaco China BV. For further information regarding COTG or the Huizhou 19-3/2/1 development project, please contact Mr Gordon Lyall via email at gordon.lyall@thales-geosolutions.com. About China Offshore Thales GeoSolutions (COTG) COTG is a 50/50 joint venture established in 1983 between CNOOC (China National Offshore Oil Company) and Thales GeoSolutions. The company provides precise positioning Precise Positioning is a term used to describe techniques to obtain the location of an object to better than a few centimeters of accuracy. Historically precise positioning was associated with surveying and geodesy. , integrated geosciences, and remotely operated vehicle (ROV ROV Remotely Operated Vehicle ROV Real Options Valuation ROV Return on Value ROV Range of View ROV Rostov, Russia - Rostov (Airport Code) ROV Roll-Over Valve (automotive fuel tanks) ROV Range of Value ) services to the offshore China market. The company employs almost 100 people and is headquartered in Shekou, Shenzhen. COTG also has operational bases in Tianjin and Shanghai. About Thales and Thales GeoSolutions Thales GeoSolutions Group Limited employs more than 2,000 people throughout its global network of operating companies. The company provides a complete range of offshore and onshore survey services including precise positioning, integrated geosciences, remotely operated vehicle (ROV) design, manufacture and operation, vessel and vehicle tracking, together with environmental and data management services as well as saturation and air diving operations. Thales is a world leader in professional electronics in three key markets: Aerospace, Defence and Information Technology & Services (IT&S). The Group employs 65,000 people in nearly 50 countries worldwide and generated revenues of over EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 11 billion in 2002. About China National Offshore Oil Corporation China National Offshore Oil Corporation (CNOOC) is a state-owned company incorporated on February 15, 1982. CNOOC is authorized under the Regulations of the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China on Exploitation of Offshore Petroleum Resources in Cooperation with Foreign Enterprises, to assume exclusive rights and overall responsibilities for the exploitation of oil and natural gas resources offshore China in cooperation with foreign partners. Headquartered in Beijing, CNOOC registered with a capital of 50 billion RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) and has 21,000 employees. |
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