Offshore staff
OSLO, Norway --Scan Geophysical ASA has agreed to sell and lease-back for 10 years its 3D vessel M/V Scan Stigandi to Neptune Seismic AS.
Neptune recently signed an agreement with Irving Shipbuilding Inc. in Nova Scotia for conversion of the vessel.
Upon delivery, the vessel begins a 10-year charter with Scan which includes options to extend the charter for 10 more years in two-year increments.
Built in 2002, theScan Stigandi is being converted to a 3D vessel with solid streamer capacity of up to 3 x 6 km (3.75 mi) 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 (7.5 mi) and high-capacity dual sources. Delivery is scheduled to be end of August 2007.
Scan will own 47.6% of Neptune Offshore AS following an investment of approximately $3.8 million.
"We are very pleased with the high quality solutions prepared for M/VScan Stigandi, making the vessel one of the most modern small size 3D vessels and definitely the most modern high-end 2D vessel" says 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."
5/11/2007
