BGP, a provider of geophysical services from China and ION Geophysical Corporation have announced the launch of a new joint venture company INOVA Geophysical Equipment Limited at a function held in Beijing.
INOVA provides advanced geophysical technologies that can be used by providers of seismic services in the areas of gas and oil exploration.
The new company owned 49% by ION and 51% by BGP markets products such as VectorSeis multicomponent sensors; AHV-IV Vibroseis vehicles; and ARIES, Scorpion, and FireFly acquisition systems. The other products include digital full-wave sensors, land seismic recording systems, and source control systems.
The CEO and President of INOVA Steve Bate stated that the launch of INOVA marks a key achievement in the seismic industry and the company intends to bring together experienced innovators all throughout the world for providing durable and effective geophysical instrumentation. Steve added that the company hopes to produce technologies which meet every performance criteria of their customers. Currently, INOVA employs around 400 people.
The predecessor companies of INOVA were known for launching pioneering innovations in the seismic industry such as the first MEMS-based three-component (3C) digital sensor (VectorSeis) in the world; the first cable-less full-wave recording system (FireFly) in the world; and the first network telemetry acquisition systems (I/O System One and ARIES) in the world.
INOVA was selected as the name of the new venture to highlight the company's past success in innovation in the seismic sector. The logo of INOVA was an inspiration from the Yang and Yin of Chinese philosophy and science. The logo’s green color signifies the Earth and the company’s passion to produce technologies that facilitate seismic activities to be carried out in an environmentally friendly manner. INOVA’s slogan, "Together, We Get the Job Done" signifies the company’s commitment to ensure that its contract customers would deliver the duty assigned to them by E&P operators.