Shearwater Awarded Two 3D Seismic Acquisition Projects in India

Shearwater Geoservices has received two separate Letter of Awards (LOA’s) from Oil and Natural Gas Corporation Limited (ONGC), each representing a large offshore 3D seismic survey offshore India.

Combined, the two projects add approximately 15 vessel months of backlog.

The awards, which will utilize two of Shearwater’s high-capacity 3D vessels, include a nine-month project offshore India’s West coast, and a six-month survey on the country’s East coast. Both projects are expected to commence early in the fourth quarter of 2026, materially strengthening vessel utilization visibility into 2027.

“These awards represent a significant addition to Shearwater’s backlog at attractive terms in a strategically important market. We have built a strong position in India with continuous presence since 2016, leveraging our industry-leading capabilities and knowledge of the local market. Our long-standing relationship with ONGC demonstrates our extensive operational track record and provides a solid foundation for continued activity across our fleet and the delivery of high-quality geophysical data supporting regional value creation,” said Irene Waage Basili, the CEO of Shearwater.

The projects are currently under LOA and are progressing toward final contract