SCAN Geophysical ASA (SCAN) announced that the company has signed a Letter of Intent for a 3-D seismic operation in the South American region utilizing SCAN's multi-purpose 3-D vessel, the M/V SCAN STIGANDI.

The 3-D work includes operations with a second SCAN seismic vessel that, during the course of the survey, will be mobilized as a dedicated source vessel to obtain 3-D seismic coverage beneath fixed obstructions located within the program area. Duration of the project is estimated at 3.5 months, of which utilization of the source vessel and its transits is approximately one month. The project also includes data processing and interpretation services. SCAN will receive payments as data is delivered and no later than end of February 2010.