Offshore staff
BERGEN, Norway – Shearwater GeoServices has received project termination notices for two recently awarded seismic acquisition contracts in the Asia/Pacific region.
The first includes a short project for Woodside offshore Western Australia that was part of an award announced last November.
Reliance Industries canceled a 1,500-sq km (579-sq mi) survey over block KG-UDWHP-2018/1 in the Krishna-Godavari basin offshore India, awarded in January.
The Polar Duchess had been due to start the program in the current quarter.
PGS, in its latest update, says all eight of its 3D vessels were in full operation during 1Q 2020.
However, the company’s multi-client revenues have been hit by the low oil price and the delay of sales and governmental processes due to COVID-19 and related preventive measures.
Last month delays were occurring to the completion of some ongoing block award processes: pre-funding on one of PGS’ ongoing multi-client surveys is contingent on a final ratification, but this has been delayed to the current quarter.
04/14/2020
