SeaBird Enters 2D Seismic Acquisition Agreement with SPU (UK)

SeaBird Enters 2D Seismic Acquisition Agreement with SPU (UK)

SeaBird Exploration PLC announced an expansion of the existing Frame Agreement with Spectrum ASA (“SPU”) for the acquisition of 2D seismic data. The previous agreement was that SPU committed to acquire 2D data for a minimum value of USD 23 million over a period of 36 months with commencement 20 May 2011.

SPU and SBX have today agreed to enter into a new agreement in which SPU agrees to acquire 2D data for a minimum value of USD 30 million over 48 months, commencing upon fulfillment of the USD 23 million in the initial contract. This is estimated to be in September 2012. The pricing of the 2D data has been adjusted as a result of increasing market rates in the 2D market.

Press Release, August 17, 2012; Image: SeaBird

Share this article

Follow Subsea World News

Events>

<< May 2017 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

OGA 2017

OGA 2017 is the most beneficial way to meet, discuss and acquire the latest in the Oil & Gas industry! It is also;…

read more >

IMCA ROV SEMINAR

This seminar is designed to assist IMCA members in dealing with these, with a programme of technical and operational topics affecting…

read more >

Offshore Wind Energy 2017

In 2017, EWEA and RenewableUK will join forces to bring you the greatest conference and exhibition Europe has ever known in the history…

read more >

UTC 2017

The subsea industry has, as all other parts of the oil & gas industry, been seriously rattled by the most severe downturn in the hydrocarbon energy era. However, the realization of what hit us and actions to be taken to sustain a healthy and profitable future is still on-going – unfortunately with thousands of colleagues paying the price by losing their job as one of the most severe consequences. At this time, there are signs that we have reached bottom in terms of most industry indicators, but few experts expect a sharp recovery. Many seem to believe that a slow recovery is what the industry needs in order to avoid an unsustainable capacity build-up, as seen in the period after the financial crisis. Considering the uncertainty of what the future will bring, this year’s UTC Program Committee have decided to challenge all of us to present ideas, experiences, technological innovations, business models and execution models for how to shape our subsea future and explain how and why subsea is the future.
UTC welcomes abstracts based on the topics listed below. If selected, please consider writing a paper in addition to the UTC presentation. From 2017, UTC papers will be published in an international database.

More info

read more >