Russian oilfield services provider Integra Group has finalized its exclusive seismic joint venture with WesternGeco, the seismic business segment of Schlumberger.

The companies had planned in July, 2010, for the formation of the joint venture to provide seismic acquisition services as well as interpretation and data processing in Russia, Kazakhstan, Uzbekistan, and Turkmenistan and their respective transition zone waters.

Integra owns 75% of IG Seismic Services, the new joint venture company, while WesternGeco owns the remaining 25%.

In addition to nearly 40 land and transition zone seismic crews and combined data processing capability, the business now benefits from proprietary Q? technology and Omega? data processing software.

Integra Group has received a cash payment of $48m from WesternGeco as part of transaction agreement in addition to contributed crews and technology.

Integra CEO Antonio Campo said that the agreement will boost the service range and expand the market presence of its core seismic segment.