CGG slashes dayrate for seismic vessel Viking Vanquish

Norwegian shipping company Eidesvik Offshore and French geophysical services company CGG have agreed to reduce the dayrate for the seismic vessel Viking Vanquish, effective from January 2017.

Eidesvik said on Monday that the bareboat contract for the seismic vessel expires in November 2020 and the dayrate will be reduced for the rest of the contract.

The shipping company will receive listed senior notes maturing 2021 and other debt instruments as compensation. The reduced dayrate will be taken into consideration when Eidesvik evaluates the value of the vessel in the fourth quarter 2016 accounts.

Viking Vanquish was originally built by Kværner Kleven AS Ulsteinvik as a supply vessel in 1998 and converted to seismic vessel in October 2007.

The vessel’s systems include the Concept Systems ORCA navigation system and the Sercel Sentinel solid streamer and SEAL recording systems. It is is capable of acquiring any type of 3D survey including wide-azimuth surveys. Viking Vanquish is 93.3 meters long with 22 meters beam.

Late last year, CGG terminated early the contract for the seismic vessel Viking Vision with Eidesvik.

Offshore Energy Today Staff

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