Magseis Fairfield has been awarded a large Ocean Bottom Node survey in Asia for an undisclosed customer. The duration of the survey is approximately five (5) months and is scheduled to commence in the fourth quarter 2021. The survey will be performed using the Z700 node technology.

“With this significant contract award, we have expanded our presence beyond our core areas of the North Sea and the Gulf of Mexico into Asia, where we expect to see more OBN surveys in the years to come. This award is a testimony to our people, knowledge, and superior technology, and represents a material addition to our backlog. The revenue generation from this project will reflect that it requires our full Z700 inventory and two node handling vessels and will therefore be equivalent to ten single node handling vessel acquisition months. As the project will be executed during the winter months in the fourth quarter 2021 and the first quarter 2022, we maintain our Z700 crew availability for the 2022 North Sea season”, says CEO Carel Hooijkaas.