​​​9th Jauary 2020

Shearwater GeoServices confirms 4D leadership with award of multiple 2020 projects

Shearwater GeoServices Holding AS (“Shearwater”) has been awarded Letters of Intent for three Isometrix 4D towed streamer projects by Equinor, and a 4D Qseabed Ocean Bottom Seismic (OBS) project by Lundin Norway for the 2020 North Sea summer season.

“We are delighted to see clients booking 4D capacity early for the 2020 season, adding 8 vessel months to our backlog.” said Irene Waage Basili, the CEO of Shearwater GeoServices. “These awards reflect our leading position in the 4D segment based on our high-end vessels, superior technology and experienced crews.”

The 4D OBS project for Lundin Norway covers the Edvard Grieg field in Norway and is effectively the second repeat survey. Data acquisition will be executed by the SW Cook and SW Tasman with Qseabed crews who have worked continuously on OBS projects in the North Sea throughout the 2019 summer season. The two-month project is scheduled to start in Q2 2019 (4 vessel months).

The SW Amundsen equipped with Isometrix multi-sensor technology will be the lead vessel for the Equinor projects. The 4D surveys will be conducted at Norway’s Sleipner West and Norne fields, and for the Sleipner CO2 storage project. The total volume of work for Equinor is approximately 4 vessel months.

“Isometrix and Qseabed have become leading technologies for 4D in the North Sea. We are also excited by the opportunity to execute Shearwater’s first CO2 storage monitoring survey over the world's first offshore carbon capture and storage (CCS) project and thereby help develop innovative solutions to limit carbon emissions” said Irene Waage Basili.

For further information
Irene Waage Basili, CEO, Shearwater GeoServices, phone: +47 90 09 86 88

About Shearwater GeoServices Holding AS
Shearwater GeoServices Holding AS is a global, customer-focused and technology-driven provider of marine geophysical services. The company has the world’s largest fleet of high-end seismic vessels and a portfolio of proprietary technologies and software that provide customers with a full-range of towed streamer and ocean bottom geophysical acquisition techniques, effective surveys and high-quality data. Shearwater has approximately 700 employees, an industry-leading cost position and a strong balance sheet. Headquartered in Bergen, Norway, Shearwater is owned by RASMUSSENGRUPPEN AS, GC Rieber Shipping ASA, Schlumberger and Eidesvik Offshore.