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Lysaker, Norway, Apr 17, 2008 - (ABN Newswire) - Wavefield Inseis ASA announced today that it has signed an agreement with Shanghai Offshore Petroleum Geophysical Corporation (SOPGC) for a one and a half year Bare-Boat Charter of the fully equipped 2D/source vessel Discoverer 2 with two single year extension options. The Discoverer 2 was built in 1993 and was converted into a seismic 2D/source vessel in 1996.
Wavefield Inseis has previous experience chartering the M/V 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 2D seismic segment during the charter period. The new charter will commence in June 2008 and Wave has already secured several months 2D 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 5 high capacity 3D vessels and 3 2D/source vessels, bringing the total fleet up to 9 vessels.
"We are extremely pleased to be able to add this vessel to our fleet", stated CEO Atle Jacobsen". The Discoverer 2 has already proved it's a high performance 2D vessel and the charter will allow us immediately to deploy additional capacity into the very strong 2D marked without any additional CAPEX investments. The increase of the 2D fleet from 3 to 4 vessels will also improve the overall 2D fleet utilisation and provide improved access to source vessels for our own permanent OBC systems and wide-azimuth surveys".
About Wavefield Inseis ASA Wavefield Inseis ASA is a Norwegian marine geophysical company providing proprietary data acquisition services and offers a portfolio of non-exclusive Multi Client data to the global exploration community, developed in partnership with oil companies and governments. Our range of products includes long offset 2D, high capacity 3D, 4D, Multi-azimuth and Wide-azimuth data acquired with highly specified vessels and the latest seismic equipment, including our OPTOWAVE(TM) multi-component ocean bottom cable (4C OBC) system for permanent seismic 4D monitoring that uses optical sensor technology. We are also in the process of launching a new concept for EM acquisition and data analysis. From our main offices in Bergen and Oslo, Norway, and our other locations in London, Houston and Perth, Wavefield Inseis has a global reach, with activities in the Americas, Europe, Africa, the Middle East and Asia.
