Norwegian seabed seismic services player Magseis has signed a Letter of Intent (LoI) for a lease contract of its proprietary MASS nodes.
Magseis will mobilize a fully containerized handling system (MASS Modular) and field technicians for the project in North East Asia, the company informed.
The duration of the contract is estimated to approximately three months and it will start during Q2, Magseis noted.
Per-Christian Grytnes, CEO said: “We are delighted with entering into our first large lease agreement. It is a major first step in adding further flexibility to our business model. The MASS node is highly competitive and we are further broadening deployment capabilities to enable more projects with low OPEX and attractive economics.”