Shearwater Geoservices has received two separate letters of award from Oil and Natural Gas Corporation (ONGC) for offshore 3D seismic surveys in India, adding about 15 vessel months of combined backlog.
Two surveys, two coasts
The awards cover a nine-month survey offshore India's west coast and a six-month survey offshore India's east coast. Both will use two of Shearwater's high-capacity 3D vessels. The surveys are a form of upstream work, the seismic imaging used to map potential oil and gas deposits before drilling begins.
Timing
Both projects are expected to start early in the fourth quarter of 2026, a schedule Shearwater said strengthens its vessel utilization visibility into 2027. The projects remain under letter of award and are moving toward final contract execution, which Shearwater expects during the third quarter.
Company comment
Shearwater CEO Irene Waage Basili called the awards "a significant addition to Shearwater's backlog at attractive terms." She said the company has kept a continuous presence in India since 2016, built on its relationship with ONGC, and that the awards extend that track record across its fleet.
