Tuesday September 14, 7:47 am Eastern Time
IDS wins Pemex contract
(Full text of press release from BCE Emergis E-News)
IDS Intelligent Detection Systems Wins $2.5 Million Exploration Contract From Pemex Canadian company also announces other survey contracts
IDS Intelligent Detection Systems, (TSE Symbol ISD) today announced that its Survey and Exploration Technology Division has been awarded a major contract from Pemex, Mexico's state oil company. Under the contract, worth $2.5 million, IDS will provide gravity data measurements over a large area of both land and the Gulf of Mexico. IDS also announced new contracts for its 3D-Gradient MagneticTM survey system in Western Canada, and for a fixed wing survey aircraft in Chile.
"I am particularly proud of the Pemex contract," said Dr. Mariusz Rybak, Chairman and CEO of IDS. "The project is a significant part of their oil exploration strategy both adjoining and in the Gulf of Mexico, an important world scale exploration area, so we expect extensions into other areas in the future."
The contract calls for IDS to acquire 7,200 point source measurements of gravity for Pemex over a large area to the north of Poza Rica, Mexico. IDS will also complete a large fixed-wing aeromagnetic survey of the area and provide Pemex with a complete geological interpretation of all the data collected.
Dr. Rybak believes the key to securing this contract is IDS's ability to provide one-stop-shopping for its clients: "This area ranges from rolling farmland to inaccessible forests, through the swamps and lagoons of the transition zone to the Gulf, and out to ocean waters over 200 meters (660 feet) deep," he says. "Our unique combination of gravity acquisition instruments enables us to provide data over a wide range of terrain and water."
The data in this project will be gathered and interpreted by experts from IDS's Canadian, Australian and Brazilian offices. Survey and analysis is expected to take 4 months to complete, commencing in September 1999. The survey will use a combination of the company's proprietary gravity systems to acquire the data, including SeaGravTM, HeliGravTM , BoatGravTM , and CG Land gravity tools.
IDS is a dynamic developer, manufacturer and marketer of sophisticated detection devices and systems. The company operates through seven business units: Analytical & Security products and solutions, IDS Power Control Systems, Scintrex Earth Science Instrumentation, Survey & Exploration Technology Services, IEC (Integration, Engineering and Consulting), ChemiCorp International and Caduceon Inc. Its more than 70 products range from drug and explosive detectors to nuclear safety control instruments, oil and gas exploration and developing technologies for industrial process control and point-of-care health analysis.
The Survey and Exploration Technology Division draws on 40 years of exploration and remote sensing in more than 40 countries, having undertaken over 3500 geophysical and geochemical surveys. The division is based in Concord, Ontario, with regional offices
in Brazil, and Western Australia.
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For further information:
Dr. Mariusz Rybak CONTACTS: Thomas M. Dean
Chairman and CEO, IDS Michael Block
(416) 214-6726 Murdock Capital Partners Corp.
Tel: (212) 421-2545
www.murdockcapital.com |
