Double win for Seabed Geosolutions

Seabed Geosolutions, a joint venture between Fugro and CGG, has secured two new contracts with a total worth of approximately $180 million. 

The company will soon mobilise for the variation order that was signed today, July 27, 2015, by Abu Dhabi National Oil Company (ADNOC) with CGG to conduct a shallow water seabed survey.

The survey is over the Ghasha-Butini field offshore Ruwais, it will take around 12 months and has a value of around $125 million.

In addition, Seabed Geosolutions has mobilised for an ocean bottom cable survey in Asia Pacific with a value of approximately $55 million. According to the press release, the survey is expected to be finished in the fourth quarter of 2015.

“In the current challenging market, with severe pressure on oil companies’ exploration and production spend, these new contracts highlight how Seabed Geosolutions’ seabed seismic services enable its clients to collect seismic data for mature exploration, field development and enhanced production in areas with potential for low cost oil and gas production,” Seabed Geosolutions has said in a statement.

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