Dolphin: Multiple New Contracts Provide Excellent Business Platform for the Year Ahead (Norway)

Full-service marine geophysical company Dolphin Geophysical is announcing a raft of recent contract wins, cementing its blossoming reputation as one of the new market leaders in the seismic arena.

The fast growing business, which only began operations in 2011, has quickly established itself as a top five major player in its sector, with a cutting edge fleet of four vessels (with two more due to be delivered this year) providing contract and multi-client acquisition and processing activities for the oil and gas industry.

In the latest developments, Dolphin has secured a three year call-off agreement with super-major Shell in Europe, a 3D survey for Genel in Morocco, a 3D assignment in the North Sea with Centrica and a further 3D project in Tanzania for Norwegian-based multinational Statoil. In addition, OMV Petrom Romania has agreed a framework agreement with the firm to provide Offshore Marine Services.

“These fresh contract agreements provide an excellent business platform for the year ahead,” states Atle Jacobsen, CEO of Dolphin Geophysical.

“2012 was an important year for us; we built upon our initial promise in the industry and became a trusted supplier of marine seismic, delivering excellent results, for an array of leading names in the energy sector. We intend to consolidate our position at the vanguard of the seismic arena this year, and the endorsement of companies such as Shell, Statoil, Centrica, Genel and OMV Petrom Romania demonstrate that we are already off to a flying start.”

Phil Suter, Dolphin’s Marketing and Sales VP, adds: “These are exciting contracts, with great companies, in a range of geographical areas that offer some very promising exploration opportunities. We are expecting a busy period ahead in established European regions, such as the North Sea, and new territories along the African continent and beyond. We’re looking forward to delivering the best possible results for our clients.”

Dolphin’s capacity to service its growing client base will be boosted in the coming year by the arrival of two new high-end 3D seismic vessels – the Sanco Swift in July and the Geo Atlantic, from GC Rieber Shipping, in the final quarter of 2013.

The Sanco Swift, a 3250-ton newbuild, can accommodate 14 to 16 streamers and boasts a bollard pull capacity of approximately 200 tons, allowing it to tow huge configurations. GC Rieber’s Geo Atlantic, built in 2002, will be upgraded to a 14 streamer vessel at a yard in Singapore prior to delivery. It is being provided on a fixed term contract of three years and six months, with additional options for 2+2 year extensions.

In addition, Dolphin has reached a further charter agreement with GC Rieber for a top-end 22-streamer 3D seismic newbuild vessel, with the highest ice-class. This will be constructed at Kleven yard in Norway, with delivery expected in March 2015.

“These new vessels are indicative of our drive to continually improve and optimize our fleet, providing the very best operational and technical proposition in the seismic market,” comments Atle Jacobsen.

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Press Release, March 07 , 2013