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Shearwater GeoServices awarded four Ocean Bottom Seismic contracts

Wednesday, February 20, 2019

Shearwater GeoServices Holding AS is pleased to announce the award of four Ocean Bottom Seismic (OBS) surveys by Aker BP ASA ('Aker BP') and Equinor ASA ('Equinor').

The projects will be executed by two of Shearwater's multi-purpose vessels using proprietary technology during the 2019 North Sea summer season.

'We are excited to be chosen by two major petroleum exploration and production (E&P) companies to execute these surveys and leverage our proprietary OBS acquisition system, state-of-the-art vessels and experienced crews,' said Irene Waage Basili, the CEO of Shearwater GeoServices.

Aker BP has awarded Shearwater a multi-year OBS contract, with the first three surveys to be conducted in 2019 at the Frosk, Ivar Aasen and Valhall fields. The first survey is scheduled to start in Q2 and the total duration for the three 2019 projects is estimated at around 4 months.

Equinor has awarded Shearwater an OBS survey over the Gullfaks field in Norway, with start-up in Q3 and an estimated duration of 1 month.

'These awards secure backlog for the full North Sea summer season for two of our OBS vessel platforms cementing our strong position in the OBS market. We are pleased to see strategically important customers acknowledge this position by awarding additional projects for follow-on seasons,' said Irene Waage Basili.

Shearwater will utilise the Multi-Purpose Vessels WG Tasman and WG Cook on the surveys, using the in-house developed Q-Seabed OBS system, and with Shearwater's experienced OBS crews.



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