SeaBird is pleased to announce that the previously reported Ocean Bottom Node (OBN) survey for BP Exploration & Production Inc. has been successfully completed by the SBX vessels Hugin Explorer and Kondor Explorer in the Gulf of Mexico. The proprietary survey represented the second stage (T1) of a time lapse program on the BP-operated Atlantis field.
The survey required 500 nodes to be deployed and the removable sensors then positioned in the seabed accurately using ROV support from the Hugin Explorer across a steep escarpment at depths ranging from 1300 to 2200 metres water depth. Operations started end July. The Kondor Explorer was used as the source vessel for the program. As the shooting program progressed, the Hugin Explorer was able to recover completed nodes and QC the data onboard simultaneously with the ongoing shooting program. The shooting program was completed on 19th September and all nodes were successfully recovered onboard Hugin Explorer by 21st September. Onboard QC of all data was then carried out. A total of 494 nodes were good for data acquisition purposes, six were found bad.
The Hugin Explorer and the Kondor Explorer are now in mobilization phase from the U.S. Gulf of Mexico for transit to Nigeria to carry out the previously announced Agbami field survey for Star Deepwater Petroleum Limited, an affiliate of Chevron Nigeria Limited. Operations are expected to commence mid November after arrival and inward clearance of both vessels. An additional 250 Case Abyss deepwater nodes will be loaded onboard enroute to Nigeria.
CEO Tim Isden comments "We are extremely pleased that the operation of our OBN division has proved to be what we had expected, especially after the late completion on our first survey in Angola. We have learnt a great deal from both these operations, and we now feel confident that the physical problems are behind us and that the quality of data acquired in both Angola and Gulf of Mexico will prove to be a key factor in the further development of OBN 4 component reservoir imaging contracts. We are also pleased to report that data owned by SeaBird from a proprietary test carried out in Gulf of Mexico prior to commencement of the BP Exploration & Production Inc. survey has now been licensed and sold to oil companies on a non-exclusive basis. Furthermore there is high interest in this SeaBird technology evidenced by the volume of enquiries supported by the subsequent Invitations To Tender requests now being received."
For further queries contact:
Tim Isden
CEO SeaBird Exploration
Phone: + 971 504 539075
Kai Solberg-Hansen
CFO SeaBird Exploration
Phone: + 47 920 51455
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SeaBird Exploration Limited (BVI) `SeaBird` is a global provider of marine 2D and 3D seismic data, solutions for seabed acquisition of 4C/4D multimode seismic, and associated products and services to the oil and gas industry. SeaBird specializes in high quality operations within the high end of the source vessel and 2D market, as well as in the shallow water 2D/3D market. Main focus for the company is proprietary seismic surveys (contract seismic). SeaBird does not have a multi-client data library. Main success criteria for the company are an unrelenting focus on Health, Safety, Security, Environment and Quality (HSSEQ), combined with efficient collection of high quality seismic data.
All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company's vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements.