With seismic market gaining traction in Brazil, Shearwater adds XNUMXth vessel to fleet

Shearwater GeoServices, a seismic services company, has decided to put its tenth vessel into active service for the 2019 Northern Hemisphere summer season due to a strong backlog of orders as the marine seismic acquisition market gains momentum.

According to Shearwater's statement on Tuesday, this extensive fleet is brought into operation based on a solid backlog and provides marine seismic acquisition services covering towing and seabed activities in response to the growing demand for geophysical services from E&P companies and from multiple clients around the world, including Brazil.

High customer activity and the successful integration of the offshore seismic acquisition assets and operations of Schlumberger, acquired by Shearwater in November 2018, within the past six months gives Shearwater a 33-month backlog at the end of May, with projects for clients such as Equinor and Shell. , Aker BP and TGS.

For comparison, in the same period last year, the company had three ships in operation and a delay of 14 months. As measured by revenue, the backlog increased four times year-over-year without compromising project margins.

“It's been a very busy six months. We have already activated six cold-stacked vessels and have one more underway in response to a growing demand for our world-class assets, operational capabilities and leading solutions,” said Irene Waage Basili, CEO of Shearwater GeoServices.

Contracts awarded to date in 2019 include 3D and 4D projects for Shell and Equinor, from offshore Australia to the Barents Sea, Ocean Sism Seismic (OBS) for Aker BP and Equinor in the North Sea, as well as a large survey in Brazil by TGS.(Read more here)

Shearwater has also been awarded a high density multi-azimuth 3D seismic acquisition contract over the SNE field offshore Senegal by Woodside.

The company added that the backlog for processing and imaging services has also grown significantly due to the strengthening market position, which has also led to new customers for the Reveal software business.

Irene Waage Basili added, “It is a strategic priority for Shearwater to have critical mass and scalability to ensure efficient and competitive operations. It also allows us to attract and retain the best people in the industry, continue to invest in technology development and be a long-term partner for all of our customers. ”

Read also

• Braskem may move from Alagoas to Espírito Santo
• Usiminas started on May 20 the search for Industrial Welder and Boiler
• Company in the port navigation area at Porto do Açú hires

Be the first to react!

0

Liked

0

Amei

0

Haha

0

Uau

0

Sad

0

grr