The agreements include a five-year utilisation commitment for an annual minimum of two vessel-years over the period. CGG will have access to Shearwater’s global fleet of 21 high-end 3D and OBS vessels. Following this transaction, Shearwater will have a fleet of 23 vessels, including three OBS MPVs and two dedicated source vessels.
In parallel, this is a technical partnership, engaging both companies to develop, manufacture and commercialise marine streamers equipment, bringing the new technology faster to the market and more cost efficiently.
All agreements are set to finalise until the end of June, with deadline planned before the end of 2019.