New 3D streamer acquisition technology purchase
Previously, Dolphin announced that a selection of next generation streamer technology would be made in 2014. Based on thorough evaluation, Dolphin has selected the proven WesternGeco Q-Marine* point-receiver marine seismic system for the Polar Empress.
This purchase of the Q-Marine system is a first step towards a potential opportunity for purchase of a WesternGeco IsoMetrix* marine isometric seismic technology. The next generation multimeasurement IsoMetrix technology is enabled by a revolutionary streamer design that combines measurements of the total seismic pressure wavefield and its gradient—both vertically and crossline.
The adoption of WesternGeco field-proven technology will allow Dolphin to offer the most advanced and efficient seismic acquisition systems to our clients assisting in exploration and production of hydrocarbon reserves. The combination of new technology platforms and our powerful solution capabilities will make Dolphin a leading marine geophysical company.
The initial Q-Marine system purchase will consist of complete seismic equipment outfitting with sixteen full-length streamers, steering arrangements, and source and control systems. When the Dolphin charter of Polar Empress begins in April 2014, she will carry the highest nominal streamer inventory in the seismic industry.
Dolphin has entered into a completely fully-financed lease agreement with Schlumberger of approximately USD 40 million, to be repaid in equal instalments including interest over 38 months. Further, Dolphin will invest additional USD 5 million in frontend towing equipment to enable super-wide configurations.
*Denotes a mark of Schlumberger
For further information, please contact:
Atle Jacobsen, CEO
Mobile: +47 97 71 53 36
E-mail: atle.jacobsen@dolphingeo.com
Erik Hokholt, CFO
Mobile: +47 90 75 60 64
E-mail: erik.hokholt@dolphingeo.com
Dolphin Group ASA
Helsfyr Atrium
Innspurten 15
0663 OSLO
Dolphin Group ASA is the Parent company of Dolphin Geophysical AS, a global full-range, asset light supplier of marine Geophysical services. Dolphin operates a fleet of new generation, high-capacity seismic vessels and offers contract seismic surveys, Multi-Client projects and processing services on a worldwide basis.
Dolphin Group ASA is listed at Oslo Stock Exchange (OSE ticker: DOLP).