SeaBird Exploration PLC has signed a contract for the Hugin Explorer and Munin Explorer to carry out a 4C NODE survey of approximately two to three weeks duration in the Norwegian Sea for ExxonMobil Exploration and Production Norway AS as the PL596 operator. The agreement follows the completion of the Rosebank second stage survey for Chevron North Sea Limited and Partners expected mid August.

This is a pilot survey utilizing the SeaBird's proprietary NODE operation and data acquisition technology to characterize sub-basalt structures which are difficult to image with other seismic technologies. The data acquired will remain in the ownership of SeaBird for 10 years, together with show rights.

The approximate value of this contract is US$3.6m, with additional revenue potential from farm-in rights and/or for buyout of data ownership.

PL596 Partners are ExxonMobil Exploration & Production Norway AS (35%), E.ON Ruhrgas Norge AS (20%), Bayerngas Norge AS (15%), RWE Dea Norge As (15%), Spring Energy Norway AS (15%).

Tags: SeaBird Exploration Limited