4th April 2022
Shearwater GeoServices awarded 3D survey, imaging, and reservoir characterization contract in Korea
Shearwater GeoServices Holding AS (“Shearwater”) has been awarded the contract for two 3D seismic surveys offshore South Korea, together with seismic data processing and imaging by Korea National Oil Corporation (“KNOC”). This is Shearwater’s first contract with KNOC.
The contract includes reservoir properties prediction analysis following processing. It will be the company’s first reservoir characterisation project in partnership with Qeye, reflecting a complete workflow from geophysical data collection through to geoscience deliverables.
“By delivering the full sequence of geophysical services, from acquisition through to final subsurface property prediction, we support our clients’ ambitions to shorten project timelines, increase technical assurance and generate additional value,” said Irene Waage Basili, CEO of Shearwater. “We look forward to working with KNOC in a new geographical market, and to deliver high-quality seismic data and reservoir characterisations.”
The Myungtae 3D survey, in Block 6-1 Central & East, covers approximately 2,575 sqkm. The data will be processed through a full time and depth imaging sequence, with delivery of predicted reservoir properties. The second survey covers approximately 500 sqkm and with data processed through a full-time processing sequence.
Shearwater will use the Geo Coral to acquire the two 3D surveys. The surveys are expected to take approximately four months to complete during the summer of 2022. The Geo Coral is a high-capacity seismic vessel, capable of multicomponent acquisition, and has been operating throughout the Asia Pacific region for the past two years.
For further information
Irene Waage Basili, CEO, Shearwater GeoServices, phone: +47 90 09 86 88
Jonas Gade Christensen, Strategy and Investor Relations Manager, phone: +47 94 42 55 11
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, efficient surveys and high-quality data. Shearwater has an industry-leading cost position and a strong balance sheet. Headquartered in Bergen, Norway, Shearwater is owned by RASMUSSENGRUPPEN AS, Schlumberger, and GC Rieber Shipping ASA.