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    Wavefield secures additional seismic vessel capacity

    Vessel & ROV News // April 22, 2008

    Wavefield Inseis has announced that it has signed an agreement with Shanghai Offshore Petroleum Geophysical Corporation (SOPGC) for a one and a half year bareboat charter of the fully equipped 2-D/source vessel Discoverer 2 with two single year extension options.

    Discoverer 2 was built in 1993 and was converted into a seismic 2D/source vessel in 1996.

    "Wavefield Inseis has previous experience chartering Discoverer 2, and with the good strong seismic market and good operational track record, we expect the vessel to have a good financial contribution in our 2-D seismic segment during the charter period," said the company.

    The new charter will commence in June 2008 and the company has already secured several months 2-D backlog for the vessel.

    The new contracts are additions to the previously announced vessel backlog figures.

    The vessel joins the rest of the company’s fleet of five high capacity 3-D vessels and three 2-D/source vessels, bringing the total fleet up to nine vessels.

    “We are extremely pleased to be able to add this vessel to our fleet”, stated CEO Atle Jacobsen. "Discoverer 2 has already proved it is a high performance 2-D vessel and the charter will allow us immediately to deploy additional capacity into the very strong 2-D market without any additional CAPEX investments. The increase of the 2-D fleet from three to four vessels will also improve the overall 2-D fleet utilisation and provide improved access to source vessels for our own permanent OBC systems and wide-azimuth surveys”.

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