INOVA is a new and independent joint venture company owned 51% by BGP and 49% by ION Geophysical.
BGP (Bureau of Geophysical Prospecting) is the world’s largest land geophysical service contractor, offering 2D, 3D, 4D, VSP, and multicomponent field services to E&P clients through more than 50 international seismic crews. BGP also provides geophysical field services that extend beyond seismic, including surveys that require gravity, magnetic, electromagnetic, and geo-chemical measurements.
ION Geophysical Corporation is a leading provider of geophysical technology, services, and solutions for the global oil & gas industry. ION's offerings allow E&P operators to obtain higher resolution images of the subsurface to reduce the risk of exploration and reservoir development, and enable seismic contractors to acquire geophysical data more efficiently.
INOVA operates with a separate, independent management structure overseen by an outside Board of Directors. Both the senior leadership team and the Board are comprised of seven individuals. In each case, four members were appointed from BGP and three members were appointed from ION. The JV Board – chaired by Mr. Wang Tiejun of BGP – meets quarterly to review INOVA’s financial performance and to approve INOVA’s strategic and operating plans. Mr. Glenn Hauer, formerly SVP of INOVA’s Product Development, was appointed as CEO of INOVA by the JV Board.