Shearwater GeoServices Norway AS has received a Letter of Award (LOA) from Wintershall Norge AS for a 3D survey of Blocks PL 768/768B in the Barents Sea.
The survey covers approximately 965 square kilometers and will be acquired using the Polar Empress in direct continuation of the vessel’s ongoing survey in the Barents Sea. “This is an important project for Shearwater and we are very pleased to receive this strategic proprietary award from a well established Norwegian operator in an active exploration area. The Shearwater fleet has significant experience operating in the Barents Sea over many years, and by design is capable of operating efficiently and safely in this harsh environment to support our clients in their exploration efforts.
The work program includes delivery of Shearwater’s advanced Pre & Post Stack Time Processing and Imaging products, further assisting our client’s decision making processes” commentedCOO Peter Hooper.
The Wintershall project further strengthens the company’s backlog prior to the Q4 winter relocation of the fleet. The company’s secured backlog will yield a total utilisation of 90% for Shearwater’s fleet in the first three quarters of 2017. “Needless to say we are very pleased with our performance so far and the same is reflected in the feedback we receive from our clients” says CEO Irene Waage Basili.
Shearwater GeoServices (“Shearwater”) has a fleet of four modern seismic vessels, a broad offering of high quality geophysical services including advanced processing and acquisition techniques, and two owners with complementing skills and collectively a long experience in the industry. In connection with the establishment of Shearwater, GC Rieber Shipping and Rasmussengruppen invested USD 60 million in equity.