Topic: Exploration

Trio of contracts for Shearwater GeoServices

Region: West Africa
Content Types: Report
Date: Mar, 2021

Shearwater

Following a strong performance in February in which the company received four survey contracts, Shearwater GeoServices (Shearwater) have made an impressive start to March with the award of three contracts to conduct surveys in Australia, West Africa and the North Sea.

Australia:

Employing the Geo Coral vessel using a multi-sensory streamer system with a variable streamer spacing configuration, Shearwater have been commissioned to conduct a 3D multi-sensory marine seismic survey in the Otway Basin offshore Australia. The survey, which will take two months to complete, will cover an approximate 2700 sq km and is estimated to commence in Q3 2021.

Irene Waage Basili, CEO of Shearwater, commented, “We see a solid, consistent level of activity in Australia where we have multiple projects booked in 2021. We observe increasing regional demand for our vessels equipped with high-end technology, which is reflected in backlog and utilisation.”

West Africa:

Following the Australian contact, Shearwater have also been employed by Total E&P Angola (Total) to conduct a 4D monitor marine seismic acquisition survey of the GJDR Development area of Block 17. The survey comprises a two-month long project and is expected to commence in Q1 2021. To complete the contract, one of Shearwater’s industry leading multi-sensory equipped vessels will be used in conjunction with source vessels from Shearwater’s fleet.

“As the established global market leader in 4D monitor surveys, Shearwater is pleased to announce the award of this advanced multi-sensory project by Total in Angola. We have seen a notable increase in interest for 4D technology for our clients’ planned projects in 2021, which is demonstrated by the award of this project in West Africa.” said Basili.

North Sea:

Capping off the trio, Shearwater will also conduct a five-month long survey of the Northern Viking Graben area offshore Norway. The 3D multi-sensor survey was awarded by CGG and is expected to commence in Q1 2021.

“This award confirms the strong relationship we have with our strategic partner CGG and we look forward to executing this survey with the highest level of quality and HSE commitment as part of our client’s multi-year project," commented Basili. “With the addition of this award to our backlog, we are now experiencing increasing demand for Shearwater’s multi-sensory vessels for the upcoming 2021 season.”