Shearwater to perform 3D survey at Wintershall’s blocks in Barents Sea

12 June 2017 (Last Updated June 12th, 2017 18:30)

Shearwater GeoServices Norway has received a letter of award (LoA) from Wintershall Norge to conduct a 3D survey of Blocks PL 768/768B in the Barents Sea.

Shearwater GeoServices Norway has received a letter of award (LoA) from Wintershall Norge to conduct a 3D survey of Blocks PL 768/768B in the Barents Sea. 

The company plans to use the Polar Empress vessel to carry out the survey that will cover nearly 965km². The vessel is currently deployed in the Barents’s Sea for an ongoing survey.

Shearwater GeoServices COO Peter Hooper said: “This is an important project for Shearwater and we are very pleased to receive this strategic proprietary award from a well-established Norwegian operator in an active exploration area.

"The Shearwater fleet has significant experience operating in the Barents Sea over many years, and by design is capable of operating efficiently and safely in this harsh environment to support our clients in their exploration efforts."

"The Shearwater fleet is capable of operating efficiently and safely in this harsh environment to support our clients in their exploration efforts."

The work programme will include delivery of Shearwater's Pre & Post Stack Time Processing and Imaging products.

The contract is further expected to strengthen the company’s backlog prior to relocating its fleet in the last quarter of this year. 

Shearwater noted that its secured backlog will yield a total utilisation of 90% for its fleet in the first three-quarters of this year. 

Shearwater GeoServices has a fleet of four seismic vessels and offers quality geophysical services, including advanced processing and acquisition techniques. 

GC Rieber Shipping and Rasmussengruppen own 50/50 of Shearwater and have invested $60m in equity.