Shearwater has won a combined 3D and 2D towed-streamer seismic acquisition and processing contract in the Andaman Sea and Kerala-Konkan coastal waters offshore India.
Shearwater has won a combined 3D and 2D towed-streamer seismic acquisition and processing contract in the Andaman Sea and Kerala-Konkan coastal waters offshore India.
The 1020 km2 3D survey for client Oil India will be executed by one of Shearwater’s 3D vessels over 45 days. Commencing in Q3 2020, the work programme also comprises 8400 km of 2D data acquisition. The project includes full 2D and 3D time processing and depth imaging. The work is expected to start in the third quarter and take six weeks to complete.
The company has also been awarded a contract from CGG to carry out the Brazil Nebula survey extension offshore Brazil. The vessel Oceanic Sirius was due to start the project last month. The contract, which is expected to take six months to complete, is part of the long-term capacity agreement between the companies.
Meanwhile, Shearwater has launched its first ocean bottom seismic ROV project for TGS and Schlumberger in the US Gulf of Mexico. Two Shearwater vessels are being used for the project. The SW Diamond and SW Emerald have been equipped with three high-capacity sources each composed of three sub-arrays.
Finally, in the second quarter Shearwater completed its first CO2 sequestration monitoring survey, at the Sleipner CO2 storage project.
Shearwater CEO Irene Waage Basili said, ‘I am pleased to announce these achievements for Shearwater particularly given the difficult market backdrop for our industry. Although we have been successful in securing more than our fair share of new business going into the second half of the year, the total market has been drastically reduced in the short term. Securing sensible backlog in the short term while taking strategic positions in forward looking markets is absolutely key in this environment.’
Additional measures have been taken to reduce costs in line with the reduction of activity in the market, she added. In the first half, Shearwater brought its ship management in-house to fully realise scale efficiencies. As part of this process, all four ‘polar’ vessels will be renamed with the prefix ‘SW’.
