Magseis Fairfield pens deepwater OBN project offshore Mexico

Contrary to current trends of contract cancelations due to the oil price drop and coronavirus spread, seismic data acquisition company Magseis Fairfield has won a deepwater OBN project in the Mexican part of the Gulf of Mexico.

Magseis said on Friday that the work was scheduled to begin in the third quarter of 2020 and would take around 60 days. The survey will be carried out in water depths of 2,000 to 2,600 meters.

The award adds further to the company’s ZXPLR crew backlog, led by the REM Saltire node handling vessel. The new award increases the crew’s backlog into the fourth quarter of 2020, following the two deepwater OBN programs announced in December 2019.

Carel Hooijkaas, Magseis Fairfield CEO, said: “This award demonstrates our leading position in the deepwater OBN market and strengthens our 2020 backlog. The work is for a repeat customer who completed a survey in the U.S. Gulf of Mexico earlier in 2020, and we very much look forward to working for them in Mexico later his year.”

It is worth noting that this will be the first deepwater OBN survey in Mexico following the 2013 Energy Reform.

No impact by coronavirus crisis 

In a separate announcement on Friday regarding the oil price decline and the coronavirus crisis, Magsesis Fairfield stated that none of its employees that are in proactive self-quarantine have experienced any symptoms and the coronavirus has so far not had any material effect on ongoing operations.

The company added that travel restrictions may affect crew changes going forward, and the company is working with the crews and local authorities to manage the situation.

The seismic acquisition firm is complying with all regulations and recommendations from local authorities in all locations, with strict sanitation regimes for both offshore and onshore operations, while office personnel has retreated to remote work from home.

“The management has started revenue scenario planning based on the current assessment of the coronavirus situation and the lower oil price scenario.

“The company keeps close contact with its customers as the industry adjusts to the new environment and finds that their focus remains on finding ways to improve reservoir management and increase recovery factors to continue to create value in a low oil price environment,” Magseis Fairfield stated.

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