Shearwater, TotalEnergies Ink Long-Term Marine Seismic Deal

(Credit: Shearwater)

Shearwater Geoservices and TotalEnergies have signed a three-year firm capacity reservation agreement (CRA) for worldwide marine seismic streamer acquisition services.

The CRA reflects the longstanding relationship between TotalEnergies and Shearwater straddling across geophysical data collection and analysis, supporting exploration effort, production monitoring and carbon capture and storage activities.

The CRA guarantees a minimum of 18 vessel months of activity for Shearwater’s high-end seismic fleet.

“Shearwater seeks to evolve the global marine seismic market through technology innovation and by developing new commercial models. We are proud to deliver on plan through this strategic collaboration with TotalEnergies, a longstanding client of Shearwater and one of the true explorers in our industry.

“This capacity agreement is the first of its kind with a major E&P company. This strategic CRA will in addition to providing valuable visibility for both parties and utilization for Shearwater, also offer a great platform for potential further collaboration across other services in our portfolio,” said Irene Waage Basili, CEO of Shearwater.