OilVoice - SeaBird Awarded 2D contract for Survey Off East Coast of India

SeaBird Awarded 2D contract for Survey Off East Coast of India

Monday, November 09, 2009

SeaBird Exploration Limited has been awarded a 2D contract for a survey off East Coast India for approximately 3,000 line kilometers with an option for the client to extend the survey. The recently reactivated vessel Osprey Explorer will be deployed for this survey commencing December 2009 following a periodical survey in Singapore.

This contract has a value including mobilization and demobilization of about USD 2.4 million for the firm portion. The Hawk Explorer recently redelivered from her term charter with Fugro and presently undergoing a periodical survey in Denmark, will substitute for the previously announced Gulf of Mexico time charter contract intended for Osprey Explorer, thus saving considerable mobilization costs and improving the net earnings combined for these two vessels.