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GC Rieber Shipping – Shearwater GeoServices Awarded Large Seismic Survey for Total and Eni

GC Rieber Shipping ASA’s 50% owned geoservices company Shearwater GeoServices (“Shearwater”) has been awarded a 10,000 square kilometer marine seismic acquisition services contract by Total and Eni for their 2018 exploration program, located approximately 300 kilometers offshore Myanmar. Shearwater will deploy the vessel “Polar Empress” for the survey which is expected to take about six months, commencing in Irene Waage Basili, CEO of Shearwater commented, “We are pleased to be awarded this significant contract with two oil majors known for their high HSE & quality standards and requirements for leading operational performance. Shearwater has undertaken a significant effort since its inception to pre-qualify for work with major oil companies. We see this recent award as a validation of that strategy, and appreciate the positive engagement of our clients to achieve this”.

Total and Eni are the operators of the two blocks to be surveyed, YWB and MD-04, off the coast of Myanmar.

The “Polar Empress” vessel was built in 2015, has a capacity of up to 22 streamers, and is one of the most powerful and efficient seismic vessels in the world.

This contract is the second significant recent award to Shearwater, following the November award by a NOC for a 5-6 months contract for which it started mobilizing the vessels “Polar Duchess” and “Polar Marquis” in December.

“The seismic market remains challenging, but on the back of a solid operational performance in 2017 in combination with recently awarded contracts, Shearwater is well positioned through the winter season and for 2018 as a whole”, says Irene Waage Basili.

Shearwater GeoServices is a marine geophysical services company jointly owned by GC Rieber Shipping ASA and RASMUSSENGRUPPEN AS. The company has a fleet of four modern seismic vessels, a broad offering of high quality geophysical services including advanced software, processing and acquisition techniques, and two owners with complementary skills and collectively a long experience in the industry.
Source: Hellenic Shipping News

 

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