​Shearwater secures 3D contract offshore India

Seismic exploration company Shearwater GeoServices has won a contract by ONGC to provide a 3D broadband marine seismic acquisition services in the Western Offshore India area.

The four-month campaign covers two areas totalling 2,800 square kilometres in the Arabian Sea off the west coast of India.

The project is scheduled to begin in the first quarter of 2021, according to Shearwater.

Shearwater said it plans to use the SW Duchess and SW Vespucci to conduct the surveys.

Irene Waage Basili, the CEO of Shearwater GeoServices, said: “Shearwater has a strong, long-standing relationship with ONGC and adding this award to our 2021 backlog demonstrates our market leading position in Indian offshore geophysics, enabling us to maintain high activity in the region throughout 2020 and into 2021”.

To remind, Shearwater has recently signed new debt and guarantee facilities totalling $437 million, as part of the planned refinancing of the company’s maturing debt.

The new facilities include the refinancing of the $325 million bridge facility originating from the acquisition of the marine seismic acquisition assets and operations of WesternGeco in November 2018.