SeaBird Exploration has extended its contract on the research and survey vessel Hawk Explorer by a further nine months until February 28, 2017.
The lease will be extended on its current payment terms from May 31 and the Limassol-headquartered company will have the option to purchase the ship for $1.75m after the lease period has ended.
Seabird, which is listed publically on the Oslo Børs, has the option to terminate the lease extension on August 31 or November 30 this year.
Alternatively, the company says it may further extend the lease until November 30, 2017, after which it will have the option to purchase the vessel, plus its related equipment for an additional $67,800.
The vessel’s beneficial owner is Dubai-based group company SeaBird Exploration FZ, according to Equasis.
Last week, Seabird has won a contract to conduct a 2D multi-client seismic survey in north-west Europe this summer. It also signed a contract recently for undershoot work in the North Sea, which is due to commence in the third quarter for approximately three weeks.