Seabed Geosolutions Sells OBC System

Seabed Geosolutions, the provider of comprehensive ocean bottom seismic (OBS) solutions to the global oil and gas industry, has signed a contract to sell the entirety of its shallow water ocean bottom cable (OBC) recording equipment.

The joint venture between Fugro and CGG said that the equipment was used on a recently completed project for Abu Dhabi National Oil Company in the United Arab Emirates. The sale fetched around  US$ 10 million.

Stephan Midenet, CEO of Seabed Geosolutions said: "The sale of our last cable-based system completes the transformation of Seabed Geosolutions into a pure ocean bottom node (OBN) company."

He added: "We are now largely focused around our Manta suite of technologies, comprised of both a proprietary node and deployment systems, and which has been designed to deliver leading efficiencies in all water depths."
 
"Seabed Geosolutions will continue to leverage its unrivaled shallow water expertise through innovative technology approaches and cost-effective business models, with a strong focus on the Middle East," it clamed.