SeaBird Exploration has announced that it has signed an agreement to provide a source vessel for an upcoming ocean bottom seismic survey in Gulf of Guinea.

The project which is expected to begin by late Q4 2016 will have a duration of about two to three months.

The company said the Osprey Explorer will be used for the project but did not disclose the name of the client, financial terms or any further details and information concerning the survey.

SeaBird said its revenues for Q3 decrease by 12% to $20.4 million, compared to Q3 of 2015, Energy-pedia reports

“The company’s fleet capacity has been reduced to better reflect current market demand. The company continues to evaluate and execute savings initiatives to reduce the company’s overall cost level, and this may include temporary stacking of additional vessels. We expect the current seismic market softness to continue to impact the seismic sector in 2017,” SeaBird added.

Anita Fatunji