Paul Enachescu said that GSIs continued presence in Canada shows "a stubbornness and resilience they confront the ups and downs of the market."
"They know the ropes in Ottawa," he said, leveraging on a history that spans 40 years of seismic data acquisition in northern Canadian waters, "and they dont have to deploy a boat from Houston."
To wit, the GSI Admiral is an 89-meter-long, ice-strengthened seismic vessel. Purchased and equipped in 2001 by GSI, the Admiral is Canadas only flagged seismic vessel. The ship carries a crew of 65 to 70, all of whom hail from the Maritimes.
According to Einarsson, GSI has captured a "niche in the seismic acquisition marketplace.
"The GSI Admiral is perfect for the North Atlantic," he said of his vessel, which is smaller than most of its competitors.
Because the GSI Admirals home port is Mulgrave Harbour, Nova Scotia, Einarrson said he can out-compete foreign companies who charge their clients $1 to $2 million just to mobilize a vessel to eastern Canada.
Nonetheless, GSI does have some competition in Labrador waters. In 2002, TGS-NOPEC Geophysical Company acquired approximately 2,200 kilometers of non-exclusive 2-D seismic off the Labrador coast. Additionally, between 1999 and 2002, TGS-NOPEC acquired 10 seismic surveys north of the Labrador Shelf, and off Greenlands west coast.
-- SUSAN EATON