TGS expects net segment revenues for the third quarter of 2020 of $81 million.
TGS expects net segment revenues for the third quarter of 2020 of $81 million. Kristian Johansen, TGS CEO, said: ‘The market remained challenging during the third quarter with record low acquisition activity. As late sales of seismic historically have been a reliable indicator of the direction of the state of the industry, it is encouraging to see a 10% sequential growth in late sales in the third quarter.’
Polarcus has announced the return of the vessel Polarcus Amani from the Russian shipping company Sovcomflot. The vessel will remain stacked in Lyngdal, Norway until market conditions support reactivation, said Polarcus. Meanwhile, Sovcomflot has exercised its option to extend the hire of the vessel Vycacheslav Tikhonov (formerly Polarcus Selma) for three years at half the current day rate.
Shearwater GeoServices has won a contract from Petronas for a towed-streamer 3D seismic survey on Block 52, offshore Suriname. The four-month project will start in Q4, 2020. The 6200 km2 survey in Suriname’s Block 52 and will be carried out by the Geo Caribbean vessel.
Seabird Exploration has won an OBN source contract in the Gulf of Mexico. The three-month contract will start in Q4 2020. However, a source contract announced on 20 April 2020 has been terminated by the charterer.
Magseis Fairfield has won a contract for a deepwater 4D Ocean Bottom Node survey in the US Gulf of Mexico for a repeat customer. The 80-day survey will start in December 2020.
Norway has approved the carbon capture and storage project at the Norcem Heidelberg Cement plant in Brevik, Norway. Aker Carbon Capture has signed an agreement worth NOK 1.7 billion ($190 million) to develop what would be the world’s first carbon capture project at a cement factory. The project is expected to commence in January 2021 and start operations in 2024.
