Offshore

PXGEO building up seismic fleet

Peter Zickerman’s recently established seismic player PXGEO is increasing its fleet with a 2013-built 14-streamer vessel PXGEO 2 and a deal to take over the remaining Polarcus’ 2011-built Vyacheslav Tikhonov, chartered to Sovcomflot.

The Rolls-Royce designed PXGEO 2 is mobilising for a 4D marine seismic project for an undisclosed client, scheduled to commence in Q2 2021.

The PAO Sovcomflot-chartered 8-streamer Vyacheslav Tikhonov is on a firm $11m contract until mid-November 2022, with options for an additional three years.

The acquisition, funded entirely through a share issue, is expected to complete in Q2 2021 and is subject to the sanction of the Grand Court of the Cayman Islands.

Zickerman’s firm also recently struck a $16m deal to acquire Fugro’s seismic unit Seabed Geosolutions, with the transaction expected to finalise mid-2021. The deal excludes the Hugin Explorer vessel which is involved in ongoing litigation.

Adis Ajdin

Adis is an experienced news reporter with a backgroud 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.

Comments

  1. Its nice that Peter Zickerman can start again. But surely there is some moral obligation to ensure that the crew who worked the last few months onboard over Christmas and away from family where paid was what promised them. I refer to contractors (seafarers ) recruited through agencies not the direct employees.

Back to top button