OceanGeo specialises in multi-component ocean-bottom seismic acquisition. Oslo-listed Reservoir Exploration Technology sold its 30% ownership stake in the company to Ion in February last year.
Ion said in a statement on Wednesday that it now owns 70% of OceanGeo. Georadar Levantamentos Geofisicos owns the remaining stake.
"The ocean bottom seismic market has grown tremendously over the past six years, and we see this trend continuing as oil and gas companies seek higher quality seismic data to better locate wells and manage their reservoirs," Ion chief executive Brian Hanson said.
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