Seismic Technology News

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.

TGS and Schlumberger today announce commencement of the Dual Coil Shooting* multi-vessel full-azimuth acquisition Revolution XII and XIII surveys in the U.S. Gulf of Mexico. The surveys will cover approximately 7,150 km2 (306 blocks) in the Green Canyon, Atwater Valley and Ewing Bank protraction areas of the Central Gulf of Mexico. The Revolution XIl and XIII surveys will be acquired using the Schlumberger WesternGeco Q-Marine* point-receiver marine seismic system combined with the proprietary multivessel, Dual Coil Shooting acquisition technique, which will provide broadband, long-offset, full-azimuth data. This combination of leading-edge technology and technique will improve illumination and imaging of the sub-salt and other complex geologic features in this highly active region.

Malaysia has opened an area of its offshore waters to the multi-client seismic model for the first time. The move is a result of a new initiative by Petronas to stimulate offshore E&P investment activity. “A consortium comprising of PGS, TGS and Schlumberger WesternGeco, the industry’s three largest multi-client companies, have successfully won the tender for the rights to undertake a multi-client seismic program offshore Sabah,” TGS,  a Norwegian seismic company said. Offshore Sabah sits in an active fold-and-thrust province that hosts a number of proven hydrocarbon accumulations. An extension of the Brunei Baram Delta play, the primary exploration target has been Miocene deltaics with some younger Pliocene.

Chevron Corporation (NYSE: CVX) announced that crude oil and natural gas production has begun at the Jack/St. Malo project in the Lower Tertiary trend, deepwater U.S. Gulf of Mexico. Jack/St. Malo is a key part of Chevron's strong queue of upstream projects and was delivered on time and on budget. The Jack and St. Malo fields are among the largest in the Gulf of Mexico. They were discovered in 2004 and 2003, respectively, and production from the first development stage is expected to ramp up over the next several years to a total daily rate of 94…

Advances in drilling technology are reviving the prospects of oil companies in shallow parts of the Gulf of Mexico, helping to squeeze more from older fields while the U.S. shale bonanza lures others onshore. Apache Corp and a handful of smaller independent companies are using seismic surveying and horizontal drilling - techniques perfected during the onshore fracking boom - to tap mature fields and find hidden reserves on the shelf. The methods appeal to investors hungry for the quick profits that cannot be delivered by deepwater drilling, where a dozen years of planning and billions of dollars in investment can be required to get oil pumping.

Systems integrator Alewijnse Marine Systems has been awarded the contract for the full electrical refit of the seismic vessel Polarcus Naila. The ultra-modern, 12 streamer 3D/4D seismic vessel will arrive in February 2014 at the Damen-owned yard Shipdock Amsterdam for a refit scheduled to last 35 days. The refit involves the replacement of the current thrusters. The ship repair and conversion yard Shipdock in Amsterdam has subcontracted the electrical repairs and modifications to Alewijnse Marine Systems…

Ship repair and conversion yard Shipdock Amsterdam, part of Damen Shipyards Group, received a contract for the propulsion upgrade of the 3D Seismic Vessel Polarcus Naila. The ultra-modern vessel will arrive at Shipdockin February 2014 for its six-week conversion. In addition to the propulsion upgrade the vessel will also undergo modification works in order to be classified as a Special Purpose Ship. Furthermore, the scope of work includes Ballast Water Treatment installation, installation of a new workboat and davits, relocation of the MOB and the five-year special survey.

Two new state-of-the-art Ramform Titan-class seismic vessels under construction at the Mitsubishi Heavy Industries yard in Japan for Norway headquartered Petroleum Geo Services (PGS) will feature a delivery from Kongsberg Maritime including integrated navigation, Dynamic Positioning and an extensive back-deck handling systems package. The contracts, valued at  more than $50 million, were signed by Kongsberg Maritime and Mitsubishi Heavy Industries, following PGS’ decision to exercise…

Shell announced a multi-billion dollar investment to develop its major Cardamom oil and gas field in the deep waters of the Gulf of Mexico (GoM). The Cardamom project is expected to produce 50,000 barrels of oil equivalent (boe) a day at peak production and more than 140 million boe over its lifetime.“Technological advances in seismic imaging and drilling have allowed us to both discover and access this new field,” said Marvin Odum, Shell Upstream Americas Director. “This is another sizeable deep-water investment by Shell that strengthens energy supplies to the USA. "Our exploration plan for Cardamom (Shell interest 100%) was the first to receive approval since the lifting of the US government moratorium on drilling in the GoM.

Rolls-Royce won a $32.2m order from Chinese conglomerate Sinopec to design and equip a specialist seismic research vessel. When operational it will carry out detailed surveys of the seabed to identify oil and gas reserves. The contract includes efficient power and propulsion systems and a range of advanced automated handling systems for seismic equipment. Rolls-Royce has a growing presence in the subsea and seismic technology markets, and during the last three months, inclusive of this contract, the Group has secured seismic orders totalling more than $80.6m. “Rolls-Royce has decades of experience in designing specialist vessels to meet the needs of the oil and gas industry and continues to develop industry leading technology.

Fugro has signed a contract with BMV (Bergen Yards) in Norway for building two new vessels. The contract consists of building one seismic vessel and one ROV offshore construction support vessel with a combined value of around $220.1m. The first ship is a seismic vessel and the vessel will be outfitted at BMV (Bergen Yards) in Bergen, Norway. The vessel will have a length of 108 m and a maximum breadth of 28 m and will be equipped with 16 tow points and the latest and most advanced seismic technology. The vessel will be delivered to Fugro in August 2010 and will operate world wide. The second vessel is a DP II ROV/offshore construction support vessel. This vessel will also be outfitted at BMV (Bergen Yards) and will have a length of 111 m and a breadth of 24 m.