GGS Wins Sri Lanka Seismic Tender

GGS has been awarded a major seismic contract offshore Sri Lanka after a competitive tender process. The estimated value of the contract is NOK 25 million. GGS has chartered state of the art seismic vessel Mezen from JSC Large of Russia to carry out the work.

Under the contract the plan is to collect 6- 8,000 km of seismic with the purpose of defining the extent of the Sri Lankan continental shelf under the United Nations program for defining continental margins. The project is financed by the Sri Lankan Government with assistance from NORAD and with a mixed credit facility from GIEK. The project is of strategic importance for Sri Lanka in providing the key documentation for Sri Lanka`s claims for extent of its continental margin.

Morten Andersen, Chairman of the Board of GGS states: 'I am satisfied that GGS has been awarded this important contract. Our daughter company in Singapore has been responsible for the tendering and negotiations. The successful outcome is building substance to our strategy which includes expansion into the Asia-Pacific market thus creating a broader variety of projects to build our cash flow.'