Magseis Fairfield lines up more work in Gulf of Mexico and Asia

Seabed seismic player Magseis Fairfield has been awarded a firm contract in the Gulf of Mexico and a conditional award in Asia for ocean bottom node (OBN) surveys.

The Gulf of Mexico project is for an undisclosed repeat client and follows a conditional award in June that has now been converted into a firm deal. The project is scheduled to start in the third quarter of this year and take approximately three months.

Meanwhile, a conditional award has been secured for a 4D OBN project in Asia from a repeat customer. The project is expected to take place in the fourth quarter and last for around one month.

End-June Oslo-listed seismic player TGS moved to take over Magseis Fairfield in a deal that values the company at NOK2.33bn ($236.9m). The two companies have struck a deal that will see TGS put forward a voluntary exchange offer to acquire all shares of Magseis Fairfield for NOK2.30 per share and 0.0426 ordinary shares of TGS.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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