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    Fugro extends seismic fleet with Geo Barents charter

    Vessel & ROV News // January 19, 2006

    Fugro has signed a three year charter agreement with the Norwegian shipping company Uksnoy & Co A/S for the vessel Geo Barents.

    The newbuild 77m long vessel will be equipped for 3-D seismic acquisition and will be able to tow six streamers. The ship will be ready for deployment in November 2006 and Fugro will obtain ownership in November 2009.

    With the above-mentioned charter further modernization of its fleet will be realised and Fugro will have six seismic vessels (of which five are 3-D) at its disposal. To retain flexibility, two or three additional vessels will be chartered on a project basis and/or shorter term to be able to operate in the seismic market with the desired fleet capacity of approximately eight vessels.

    Fugro-Geoteam AS has recently been awarded two contracts by the Norwegian oil company Norsk Hydro for two seismic surveys in the Norwegian sector of the North Sea.

    One survey is a 3-D exploration survey covering approximately 300km2. The second contract is a 4-D survey of the Oseberg field. The total contract value is approximately US$8 million.

    Both surveys will be performed by Fugro’s high capacity 3-D/4-D vessel Geo Pacific. The work is scheduled to start in March 2006, directly following completion of another ongoing survey for Norsk Hydro.

     

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