Otto Marine says its subsidiary Reflect Geophysical has entered into a contract with US-listed Geokinetics Inc to acquire 3D seismic data Acquisition in Block D4 Offshore Gabon off the gulf of New Guinea.

Under the deal, Reflect will carry out shallow water streamer acquisition survey for the block operator, ENI Oil Holdings BV, for a period of two years with an option for another two years

The contract, valued at at least US$8 million ($11.3 million) is not expected to have a material impact on the net tangible assets or consolidated earnings per share of the company and its subsidiaries for the financial year ending 31 December 2010.

Reflect will use its newly-chartered vessel Reflect Aries to carry out the survey at water depths of more than 10m and will deploy two 5,000 m streamers.