Seabird Exploration wins OBN source contract in North Sea

Seabird Exploration has bagged an ocean bottom node (OBN) source contract in the North Sea from an undisclosed client with mobilization to take place next month.

The Cyprus-based marine acquisition provider will be using the Eagle Explorer for the short duration contract, the value of which has also not been disclosed.

According to Seabird Exploration, the next planned work for the Eagle Explorer vessel is a source job in South America as announced in April 2020. However, the company has been informed that mobilization for the South American survey has been delayed to the fourth quarter because of the ongoing COVID-19 crisis.

The marine acquisition provider as part of its asset-light strategy and renewal process has decided to divest the Harrier Explorer for recycling. The deal is likely to be wrapped up in early third quarter and will have a small positive cash impact.