GC Rieber Shipping: Shearwater Geoservices Awarded Large Seismic Survey for Total and ENI

Source Press Release
Company TotalEnergies SEENI S.p.A. 
Tags Oil Services, Service Contracts
Date January 18, 2018

GC Rieber Shipping's 50% owned geoservices company Shearwater GeoServices has been awarded a 10,000 sq km marine seismic acquisition services contract by Total and Eni for their 2018 exploration program, located approx. 300 kms offshore Myanmar. Shearwater will deploy the vessel 'Polar Empress' for the survey which is expected to take about six months, commencing in January 2018.

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.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd