SeaBird - Awarded USD 40 million Ocean Bottom Node survey by Oil and Natural Gas Corporation Ltd of India (ONGC) for Mumbai High Field
(Thomson Reuters ONE) -
23(rd) August 2011. Cyprus
SeaBird Exploration PLC ("SeaBird" or "SBX") is very pleased to announce through
its wholly owned subsidiary SeaBird Exploration FZ LLC the receipt of a
Notification of Award (NOA) from Oil and Natural Gas Corporation Ltd of India
(ONGC) for a 4C-3D Seismic API Pilot Project in Mumbai High Field. This is an
official notification that SBX has been awarded Tender No Y16KC10017 and
consequently the Hugin Explorer and Munin Explorer will mobilize from the
Norwegian North Sea immediately following the conclusion of the current
ExxonMobil contract expected to be around 10(th) September 2011.
This is a most prestigious contract award for SBX - as well as being the eighth
contract award since operations started - and a highly important survey for ONGC
as the data to be acquired is necessary for the planned optimal placement of two
development wells from the upcoming platforms within the survey area by June
2012. ONGC has requested start up as soon as possible and SBX estimation for
commencement on survey site is around mid October 2011.
The total number of node stations deployed will be in excess of 2,300 at 200
meter spacing, and data acquisition will be carried out in two swaths by rolling
phases of approximately 760 nodes each. The technical expertise and track record
of SBX in previous surveys has been an important element of the choice of
contractor by ONGC, and furthermore this contract is another important step
forward in the developing OBN market sector as it covers processing and
interpretation for both pressure and converted (shear) wave data.
Value of the contract is USD 40 million and duration is estimated to be about
110 days including mobilization from North Sea.
For further queries contact:
Tim Isden
CEO SeaBird Exploration
Phone: + 971 504 539075
Erik Hansen
CFO SeaBird Exploration
Phone: + 47 902 77268
SeaBird Exploration PLC is a global provider of marine solutions for seabed
acquisition of 3D/4C/4D multimode seismic data with OBN operations, marine 2D
and 3D seismic data, and associated products and services to the oil and gas
industry. SeaBird specializes in high quality operations within the high end of
the source vessel and 2D market, as well as in the shallow water 2D/3D market.
Main focus for the company is proprietary seismic surveys (contract seismic).
Main success criteria for the company are an unrelenting focus on Health,
Safety, Security, Environment and Quality (HSSEQ), combined with efficient
collection of high quality seismic data.
All statements in this press release other than statements of historical fact
are forward-looking statements and are subject to a number of risks,
uncertainties and assumptions that are difficult to predict, and are based upon
assumptions as to future events that may not prove accurate. These factors
include SeaBird`s reliance on a cyclical industry and the utilization of the
company's vessels. Actual results may differ substantially from those expected
or projected in the forward-looking statements.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SeaBird Exploration Ltd. via Thomson Reuters ONE
[HUG#1540330]
Unternehmensinformation / Kurzprofil:
Datum: 23.08.2011 - 08:30 Uhr
Sprache: Deutsch
News-ID 58081
Anzahl Zeichen: 4227
contact information:
Town:
Oslo
Kategorie:
Business News
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"SeaBird - Awarded USD 40 million Ocean Bottom Node survey by Oil and Natural Gas Corporation Ltd of India (ONGC) for Mumbai High Field"
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