Wavefield Inseis Expands Seismic Fleet

Wavefield Inseis AS is expanding its seismic fleet with the introduction of another new large capacity 3D vessel. The vessel, to be named the Geowave Master, has been chartered from Geo ASA for a period of seven years with options for up to 17 years. It is currently being converted in a Norwegian yard and will be delivered from yard in May 2007.

The 117m long and 22.5m wide 3D seismic vessel will be the third large capacity vessel launched by Wavefield Inseis, following on from the Geowave Commander launched in September 2006 and the Geowave Champion which will be introduced in April 2007.

Bringing the total number of vessels in the Wavefield Inseis fleet to four, this new vessel will be rigged for 12 streamer acquisition and is specifically designed to meet the high-capacity 3D, 4D, Multi-azimuth and Wide-azimuth markets. The Geowave Master is being equipped with brand new state-of-the -art seismic equipment and will be one of the worlds most modern large 3D vessels when it enters the market.

"We are very focused at this point in time on bringing a new high-end fleet of large 3D vessels to the industry," commented Atle Jacobsen, CEO of Wavefield Geophysical. "A fleet that is designed, equipped and operated to meet the challenges of the market, now and in the future."