Equinor, Aker BP tap Shearwater for OBS surveys offshore Norway

Marine seismic specialist Shearwater GeoServices has won four Ocean Bottom Seismic contracts by Aker BP and Equinor in Norway. The contracts will fill backlog for the 2019 North Sea summer season for two multi-purpose vessels, the seismic data acquisition company said.

WG Tasman vessel / Image source: Shearwater Geoservices
WG Tasman vessel / Image source: Shearwater Geoservices

Irene Waage Basili, the CEO of Shearwater GeoServices.”We are excited to be chosen by two major petroleum exploration and production (E&P) companies to execute these surveys and leverage our proprietary OBS acquisition system, state-of-the-art vessels, and experienced crews.”

With Aker BP, Shearwater has won a multi-year OBS contract. The first three surveys are expected to be conducted in 2019 at the Frosk, Ivar Aasen and Valhall fields, offshore Norway. The first survey is scheduled to start in the second quarter and the total duration for the three 2019 projects is estimated at around four months.

Equinor has awarded Shearwater an OBS survey over the Gullfaks field in Norway, with start-up in Q3 and estimated duration of one month.

“These awards secure backlog for the full North Sea summer season for two of our OBS vessel platforms and cementing our strong position in the OBS market. We are pleased to see strategically important customers acknowledge this position by awarding additional projects for follow-on seasons,” said Irene Waage Basili.

Shearwater will use the Multi-Purpose Vessels WG Tasman and WG Cook 12-streamer 3D offshore seismic research vessel of the ULSTEIN SX124 design on the surveys, using the in-house developed Q-Seabed OBS system. Shearwater in November last year bought the vessels as part of the acquisition of WesternGeco’s marine seismic data acquisition business from Schlumberger.

Under the terms of the agreement, Shearwater acquired 10 high-end seismic acquisition vessels, including seven 3D vessels and three multipurpose vessels (MPVs) configured to serve the growing OBS market, 12 complete streamer sets with spares, as well as two source vessels. The transaction also included WesternGeco proprietary marine seismic technology, as well as development and manufacturing facilities in Norway and Malaysia.

Schlumberger received cash consideration based on an enterprise value of USD 600 million plus a 15% post-closing equity interest in Shearwater GeoServices Holding AS.

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