The parties have now agreed to modify the agreement and to enter into a firm charter for the vessel for a fixed period of six years whereupon the continuation will be regulated by a put/call option to transfer the vessel to WesternGeco. The total value of the charter hire from the fixed charter and the purchase price under the put/call option is about EUR 152 million.
The agreement with seismic major WesternGeco confirms Arrow's position as a leading supplier of multistreamer seismic vessels to the marine seismic industry with cost efficient design and focus on safe and cost efficient operations.
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