Rosebank survey brought forward

Offshore staff

LIMASSOL, Cyprus -- Chevron North Sea has granted SeaBird Exploration an option to start the second stage of an ocean bottom node survey at the Rosebank field west of Shetland.

Sea Bird will use the Hugin Explorer as node vessel and Munin Explorer as source vessel earlier than the initially agreed start date. Hugin Explorer recently completed classification work at a yard in Denmark, and underway to the Rosebank location.

Work should start next week, three weeks ahead of the original target date of around May 5.

Elsewhere, SeaBird has won further 2D and 3D shallow water survey contracts. The Hawk Explorer has been awarded a short survey in direct continuation from its current assignment off West Africa, where the vessel will be employed until end-May/early June.

Northern Explorer is performing a survey off East Africa which should be completed mid-May, and will then transfer to South Africa where it will be employed until mid- to end-July.

Geo Mariner is mobilizing to Southeast Asia, where it has a one-month 2D survey contract, which could be extended by a further month, and an option for a 3D survey. This will occupy the vessel at least through mid-June, possible to end-July.

All the contracts have a combined value of $ 7-9 million. Going forward, SeaBird expects 2D activity to increase, resulting in much higher use of its 2D fleet than in the second half of 2010, although rates remain low.

04/07/2011



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