AGS Scores OBN Survey Extension

OE Staff
Thursday, March 19, 2020

Norwegian ocean bottom node seismic surveyor Axxis Geo Solutions (AGS) has won a contract extension for a survey in the Middle East.

AGS was in December awarded the original OBN contract that started in January with scheduled completion near the end of the first quarter 2020.  

Now the company say the contract has been extended.

"The additional work is estimated to be totaling 7 vessel months and will continue into the second quarter of 2020. This extension adds profitability and cash flow to the overall project, whilst offering our client a cost-effective addition to their venture," CEO Lee Parker said.

"The added work, together with recently announced LOI for a North Sea contract, will be helpful in the ongoing process of strengthening the company's working capital" adds Parker.

Worth noting, Norway's offshore vessel owner Havila Shipping on Thursday said that Axxis Geo has extended contracts for two of its platform supply vessels Havila Aurora and Havila Fortune.

 While originally built for platform supply duties, AGS has repurposed the two vessels, and it now calls them Multipurpose Seismic Survey Vessels on its website.

The vessels' AIS data show they're located in the Gulf of Suez.

Categories: Vessels Middle East Geoscience Activity Geophysical Seismic Survey

Related Stories

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

CIP Reaches Financial Close for Offshore Wind Farm in Taiwan

Second Hai Long Substation Heads to Project Site Offshore Taiwan

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

CNOOC Brings Online Second Phase of Luda Oil Field Project in Bohai Sea

SLB Names Raman CSO, CMO

CNOOC Starts Production at Offshore Oil Filed Equipped with CCUS Tech

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

Current News

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com