Geophysical Services News

French-based geophysical services company CGG announced that it has completed the wind-down and exit from its land seismic data acquisition business after completing its last land seismic acquisition contract in Tunisia.Following on from the company’s recently announced exits from seabed and marine data acquisition, this milestone marks the successful completion of CGG’s strategy to exit the seismic data acquisition business.To date, CGG still retains a minority shareholding in the ARGAS company operating in the Middle East.Sophie Zurquiyah, CEO of CGG, said: “The exit from our seismic data acquisition business, one of CGG’s long-standing historic areas of expertise…

Houston-based  global seismic services company SAExploration announced a combined $130 million of new projects in Alaska, Canada and the Middle East.According to the geophysical services provider the largest contract is valued at approximately $112 million for onshore data acquisition services to be performed on the North Slope of Alaska.The data acquisition services will be conducted over the next three winter seasons, beginning in Q1 2020.In association with this multi-year project award, SAE has entered into a separate agreement with Geospace Technologies Corporation to purchase 30,000 new state-of-the-art GCL recording channels.The new Geospace channels will primarily be utilized during the aforementioned multi-year contract in Alaska…

Shearwater GeoServices, a marine geophysical services company, has been awarded the largest-ever 4D seismic campaign in the Asia/Pacific region covering up to six fields operated by Woodside offshore Australia.According to the 50/50 joint venture between GC Rieber Shipping and Rasmussengruppen  AS, the campaign, planned to commence in Q4 2019, covers new 4D acquisition over the Pluto, Brunello, Laverda, Cimatti and Vincent fields with an option for one additional field.The 4D seismic campaign will improve Woodside’s understanding of the fields’ production performance over time and provide data to guide future field developments. This is the second 4D seismic campaign award by Woodside to Shearwater following the baseline 4D program in Senegal earlier this year.“By using Isometrix…

Norwegian geophysical services company Electromagnetic Geoservices ASA (EMGS) said in its fleet update for the third quarter 2019 showed a fleet utilization of 73 percent,  compared with 29% for the third quarter in 2018. The marine EM market player said that its  vessels were allocated 73% to proprietary work and no time was spent on multi-client projects, in the third quarter of 2019.In the comparable quarter of 2018, the vessels were allocated 29% to multi-client projects and no time was spent on proprietary work.EMGS had two vessels on charter and recorded 6.0 vessel months in the quarter. In the third quarter 2018, the Company also had two vessels on charter.The Atlantic Guardian commenced a proprietary survey for Pemex in Mexico on 25 July 2019. This survey is still ongoing.

Norway-based provider of marine geophysical services, Shearwater GeoServices has been awarded a 3D Isometrix seismic survey by Colombia’s Ecopetrol.It will be Shearwater’s first Isometrix survey in Latin America with marine acquisition starting in Q4 2019, said GC Rieber Shipping ASA's 20% owned geoservices company.The survey covers 2 000 sq. km of 3D seismic offshore Colombia on Ecopetrol’s Block COL-5 and will be acquired by the SW Amundsen equipped with Isometrix multisensor streamer technology.Isometrix streamer technology is a true 3D multisensor system that can record the full seismic wavefield enabling better receiver deghosting and improved seismic images.

Norwegian geophysical services company Electromagnetic Geoservices ASA (EMGS) has been awarded a contract by UK oil and gas major BP for work off the coast of Senegal and Mauritania.EMGS said in a in Oslo Exchange filing that the contract is worth around $6 million. The survey work is expected to start in the first quarter of 2020.CEO of EMGS, Bjørn Petter Lindhom, said, “EMGS is delighted to return to Africa and for the opportunity to work for BP and partners on their high-profile acreage in Mauritania and Senegal.""This contract extends our already healthy backlog and puts us in a good position to secure additional work in the prolific MSGBC Basin and in West Africa…

The geophysical services provider SAExploration Holdings successfully completed the largest shallow water ocean-bottom marine project in its history.Contracted to SAExploration by a major national oil company, the project, located in the Arabian Sea off the coast of India, utilized over 20 vessels, which included three ocean-bottom node deployment vessels and two seismic source vessels operating in dual source/simultaneous source mode.A total of 5,400 ocean-bottom nodes and in excess of 1,300 kilometers of rope were deployed on the project to acquire approximately 1,200 square kilometers of full fold seismic data.Jeff Hastings, Chairman and Chief Executive Officer…

Norwegian geophysical services company Electromagnetic Geoservices ASA (EMGS) is participating in a sole-sourced tender process for a multi-year acquisition contract.EMGS has now received a letter of award for the contract. The multi-year call-off acquisition contract, awarded by one of the world’s largest national oil companies, has a minimum value of approx. USD 29.3 million, and a maximum value of approx. USD 73.3 million, over a two-year period.Based on current acquisition estimates, the marine EM market leader expects that all or a substantial part of the minimum contract value will be recognised in 2019.EMGS expects that final contract execution will take place within approx. three weeks.

Norwegian geophysical services company Electromagnetic Geoservices ASA (EMGS) said that its vessel utilisation for the fourth quarter 2018 was 32% compared with 13% for the fourth quarter in 2017.For the full year 2018, the vessel utilisation was 33%, whereas the utilisation for the full year 2017 was 56%, it said.In the fourth quarter of 2018, the Company's vessels were allocated 32% to proprietary work and no time was spent on multi-client projects. In the comparable quarter of 2017, the vessels were allocated 13% to multi-client projects and no time was spent on proprietary work.EMGS had two vessels in operation and recorded 5.7 vessel months in the quarter.

Norway-based provider of marine geophysical services Shearwater GeoServices Holding  announced the completion of the acquisition of the marine seismic acquisition assets and operations of WesternGeco, the geophysical services product line of Schlumberger.The owner of world’s largest fleet of high-end seismic vessels said in a release that the transaction was completed following receipt of relevant regulatory approvals and satisfaction of customary closing conditions.“We are now an industry-leading full-range geophysical services company with a solid financial and strategic platform. We are eager to move ahead as one strong combined business with global reach…

The Board of Directors of  the Norwegian geophysical services company Electromagnetic Geoservices (EMGS)  announces that Christiaan Vermeijden has decided to resign from his position as CEO due to personal reasons.A press release from the marine EM market firm said that  Vermeijden will step down as CEO per 31.12.2018. He has held the position of CEO since February 2016.Eystein Eriksrud, Chairman of the Board of Directors: "We regret that Christiaan Vermeijden has resigned but we respect his decision. On behalf of the Board of Directors, I would like to thank him for his dedication to EMGS and wish him all the best in the future.Christiaan Vermeijden: "I regret that I leave EMGS due to personal reasons.

Norwegian marine geophysical services company Shearwater GeoServices Holding AS has entered into a definitive agreement to acquire the marine seismic acquisition assets and operations of Schlumberger’s geophysical services product line, WesternGeco.The transaction, which remains subject to regulatory approvals and other customary closing conditions, is expected to close in the fourth quarter of 2018.Houston based Schlumberger will receive cash consideration based on an enterprise value of $600 million plus a 15 percent post-closing equity interest in Shearwater. For a limited period, Schlumberger  will be entitled to payments under an earn-out agreement linked to future vessel usage over and above specific thresholds.

Cash-strapped Norwegian survey player Electromagnetic Geoservices (EMGS) has launched a refinancing exercise as the geophysical services company seeks to alleviate a liquidity squeeze. An independent board of directors of EMGS in cooperation with the company’s three largest shareholders, developed a comprehensive refinancing proposal. The Comprehensive Refinancing consists of two elements; (i) a rights issue with gross proceeds of up to USD 12.5 million, whereof USD 10.0 million is underwritten; and (ii) issuance of a new, fully underwritten convertible bond loan with a total nominal amount of up to USD 32.5 million. The underwriting will be regulated by way of underwriting agreements, with fully termed underwriting agreements expected to be executed on or about 5 March 2018.

Duncan Eley has been appointed chief executive officer of Oslo listed offshore geophysical services company Polarcus Limited, replacing Rod Starr, who has resigned following a two year reorganization period. Eley has been promoted to the CEO role from his current position as chief operating officer, succeeding Starr effective immediately. Starr will continue to work with the executive management team and Polarcus' Board of Directors for a transition period during the second quarter of 2017.

539 N. TerraSond is a leader in precision geospatial solutions providing professional survey and geophysical services in both terrestrial and marine environments safely, effectively and economically. TerraSond employs ACSM Certified Hydrographic Surveyors, staff hydrographers, marine geophysicists, geologists, oceanographers, cartographers, GIS / CADD specialists and IT and professional mariners. Clients include oil and gas, pipeline, renewable energy, shipping, dredging and construction industries.

Inchcape Shipping Services (ISS) has secured a further nomination from one of their key accounts to support their operations in Sub-Saharan Africa. Building on other recent successes in the region, ISS announced commencement last month of an offshore logistics and support contract for Norwegian-based Petroleum Geo-Services (PGS). Under the five-month contract, ISS will support a seismic survey project to map oil and gas deposits off the East African coast. Coordinated from the company’s Durban office…

Dolphin Geophysical has secured a 3D contract award from an undisclosed client for work in the North Sea. The survey will be acquired by the high capacity 3D vessel M/V Polar Duke, commencing in August for the duration of approximately five weeks. "We now have a full backlog for the Summer Season", says Håvard Åsli, Regional Marketing and Sales Manager for North Europe, "with all of our vessels working in the North Sea region and busy into Q4". Norway's Dolphin Group ASA is the parent company of Dolphin Geophysical AS, a global full-range, asset light supplier of marine geophysical services.

Dolphin Group ASA,  headquartered in Norway, awarded multiple North Sea 3D seismic contracts for 2013. Dolphin has been awarded several contracts for the upcoming North Sea season. The awards are for both 3D and 4D seismic services and will involve three of its 3D seismic vessels with a total duration in the range of 8-12 months. Dolphin sat they will revert with further contract details when they present their 2013 guidance on or about 8 January 2013. "These early awards with…

· Dolphin successfully enters into and completes the  first 3D Multi-Client survey in Norway. Atle Jacobsen, Dolphin Group CEO, commented: 
"There is strong market demand for Dolphin's marine  
seismic services. "From day one, Dolphin has emphasised the importance  
of building a strong internal geophysical and Multi- 
Client business competence. This strategy works. Today our Multi-Client seismic model is being  
recognised by an increasing number new global clients  
and governmental authorities.

Kirkenes is becoming an important port for vessels conducting seismic surveys in the Arctic search for fossil fuels. Geographical proximity to the oil and gas fields and developed infrastructure draws companies to this North Norwegian town. One of the companies making a profit on the increased activity in the Arctic is Henriksen Shipping. Since the Agreement on Delimitation of the Barents Sea and Arctic Ocean came into force, Henriksen Shipping has had an enormous increase in the number of calls by vessels heading to Arctic waters for seismological surveys.

At 134-feet (40.8 meters) in length the research vessel Sea Scout is the largest catamaran built by All American Marine in Bellingham, Washington and the largest vessel designed by Nic deWaal’s Teknicraft Design of Auckland New Zealand. With its length and 37-foot 4-inch beam, this is not only a large vessel it is, as C&C Technologies Survey Services newest vessel, a highly sophisticated and complex craft. A vessel such of this has a dual personality. The first being a crewed vessel designed to get from place to place in an efficient manner.

China Oilfield Services Limited （COSL) has agreed a deal to implement the fleet management software AMOS  from SpecTec Asia Pacific East Ltd across three units of its fleet. The two parties have signed a contract which includes the supply of AMOS software suite, databases and associated consultancy services. AMOS is going to be installed onboard a 3000 meter semi-submersible drilling platform (COSL 981), delivered in 2011,  as well as onboard two jack-up drilling rigs (HYSY936 and HYSY942). COSL is the leading integrated oilfield services provider in the offshore China market. Its services cover each phase of offshore oil and gas exploration, development and production.

Drydocks World recently delivered seismic vessel Polarcus Selma to its owner, Dubai-based geophysical services company Polarcus. Polarcus Selma is among a series of vessels that were built at the Dubai facility for Polarcus and others with a vessel CAPEX of $135 million. Polarcus Selma is an Arctic-ready, eight-streamer 3D seismic vessel of the Ulstein SX133 design, built to tow both conventional and wide tow spreads, including the Company's First PassTM 3D technique. The SX133 design has an overall length of 84.2m and a beam of 17m.