SeaBird nets 2D seismic contract in South America
- Business & Finance
SeaBird Exploration will be providing one of its vessels for a 2D seismic project in South America.
According to the marine seismic surveyor, the project is expected to start in late December 2016.
Without revealing details on the client or the exact project location, SeaBird said it will be using the Northern Explorer for the job.
The project will have a duration of approximately 45 days.
The Oslo-listed company last month said the third quarter of 2016 had been challenging with weak seismic market demand and the timing of a sustained market recovery “still highly uncertain.”
Presenting its results in November, the company revealed revenues for the quarter were $20.4 million, a decrease of 12 percent compared to the same period of 2015 and down 8 percent relative to 2Q 2016.