Dolphin Clinches New Seismic Deal

Dolphin, a provider of marine geophysical services, has been awarded a contract for 3D data acquisition and processing with an undisclosed client.

The work will be of 2-3 months duration, the company wrote in a press release.

The acquisition is planned to start in Q4 2015. Dolphin did not disclose the value of the contract nor the client’s name.

Earlier this week the company entered into an agreement with GC Rieber Shipping, as part of an overall restructuring agreement, to improve Dolphin’s competitiveness in a challenging market.

GC Rieber Shipping will grant Dolphin a rolling credit facility of USD 5 million, consisting of payments due to GC Rieber Shipping. The credit facility is effective for 9 months.

Subsea World News Staff