Seabed Geosolutions to collect subsea data for Petronas

2/5/2014

Seabed Geosolutions to collect subsea data for Petronas

LEIDSCHENDAM, The Netherlands -- Seabed Geosolutions will carry out a major Ocean Bottom Cable (OBC) contract for Petronas in Malaysia, on the Temana and D18 fields. The project will start at the end of first-quarter 2014, and is expected to take approximately six months to complete. The contract value is roughly $70 million.

With this contract, Seabed Geosolutions has secured a backlog for 2014 for its data acquisition activities using seabed cables, the majority of which is firm. In 2013, seabed data acquisition using cables suffered from low utilization.

Seabed Geosolutions was formed in February 2013 as a JV between Fugro and CGG. It collects geophysical data on the seabed, through an array of imaging technologies, with a focus on the development and production phases of oil and gas fields.

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