Magseis Fairfield scores ‘large’ OBN deal with ExxonMobil

August 17, 2022, by Ajsa Habibic

Magseis Farifield has signed an agreement with ExxonMobil affiliate for what is said to be a large ocean bottom node (OBN) project offshore Guyana.

The contract was signed with Esso Exploration and Production Guyana Limited (EEPGL).

The project is expected to be conducted using Magseis’ ZXPLR technology and last for a minimum of 14 months.

Additional details about the agreement and the project were not revealed.

“We are very pleased to have been awarded this large OBN project, which potentially sets the stage for other projects in this region”, said Carel Hooijkaas, CEO of Magseis Fairfield.

This is the latest in a series of OBN projects secured by Magseis this summer. In June, the company secured an OBN contract in the deepwater Gulf of Mexico from a repeat customer.

At the time, the seismic player also announced the award of an OBN survey in the North Sea using its Z700 crew.

This was followed by a conditional contract award for a 4D OBN project in Asia from a repeat customer.

Meanwhile, the company entered into a transaction agreement with TGS that made an offer to buy Magseis in a deal that values the seismic player at NOK 2.33 billion (approximately $237 million).

“Combining Magseis’s leading position in the Ocean Bottom Node (OBN) market with TGS’s multi-client and data processing capabilities creates a unique offering of superior quality products and services across the value chain“, said Kristian Johansen, CEO at TGS.