SCAN Geophysical ASA has announced that the company has
agreed to sell its 3D vessel M/V Scan Stigandi to the ship owner Neptune
Seismic AS. The agreement includes a lease-back with a time charter
agreement over 10 years plus options.
Neptune Seismic AS is controlled by Neptune Offshore AS, and has recently
signed an agreement with the Canadian shipyard Irving Shipbuilding Inc. of
Halifax, Nova Scotia for conversion of the M/V Scan Stigandi.
Upon delivery from the shipyard, the vessel will begin a
10-year time charter contract with SCAN on average day rates of
approximately USD 22,500 per day. The charter rate will be higher in the
first three years and lower over the remaining seven years. The charterer
will have further options after the charter period for additional 5 x 2
years.
Built in 2002, the M/V Scan Stigandi is being converted to a
modern 3D vessel with solid streamer capacity of up to 3 x 6 km for smaller
3D surveys. She also will be capable of operating high-end, long offset 2D
seismic with a streamer length of up to 12 km and high-capacity dual
sources.
Delivery is scheduled to be end of August 2007, when the
vessel will commence operation. The seismic equipment has been fully
financed through a financial lease agreement.
SCAN will own 47.6% of Neptune Offshore AS following an
investment of approximately USD 3.8 million.
Irving Shipbuilding Inc. is one of Eastern Canada’s leading
industrial groups, specializing in small and complex vessels with a history
of building and repairing vessels and offshore structures for almost 50
years.
"We are very pleased with the high quality solutions
prepared for M/V Scan Stigandi, making the vessel one of the most modern
small size 3D vessels and definitely the most modern high-end 2D vessel"
commented Stephane Touche, Senior Vice President and COO of SCAN. "The
seismic market will be more specialized in the future with higher
requirements from clients in the oil and gas industry.
With the yard’s extensive production capacity and track
record, we are comfortable with the production schedule and quality of
work," added Touche.
SCAN Geophysical ASA was established in 2002 as a seismic
data acquisition company specializing in both marine streamer seismic and
ocean bottom seismic. The company is currently operating one
2D and one 3D vessel, and will launch the M/V Scan Stigandi
and three new building state-of-the-art 3D 8-10 streamer vessels.
Administration is located in Oslo, with representatives in Moscow, Houston,
Singapore and Caracas. SCAN Geophysical ASA is listed on the Norwegian OTC
list and expects a listing on the Oslo Stock Exchange or Oslo Axess in the
end of May 2007.
Source: ScanGeophysical
