SED Energy Holdings Plc announced that its wholly owned subsidiary, SeaBird Exploration, has signed a new contract for OBN source work for the Fulmar Explorer in the Western Hemisphere.
According to SeaBird CEO Finn Atle Hamre, “This award confirms both the high quality of our vessel and the strong capabilities of our team. Our proven track record in delivering safe, reliable, and efficient projects continues to be recognized by clients, and we look forward to executing this campaign to the highest standard.”
The contract has a firm duration of three months, with options that could extend the total period to nine months. Work is expected to commence in mid-September. The company said commercial terms are in line with market conditions for SeaBird’s vessels over the past year.
Kurt M. Waldeland, CEO of SED Energy Holdings, stated: “This award reflects continued healthy demand for our assets. By securing additional backlog, we further enhance forward earnings visibility and support our long-term strategy for shareholder distributions.”
The company did not disclose financial terms of the agreement.
SED Energy Holdings Plc is a public limited company incorporated in Cyprus, holding and managing assets in the energy sector through wholly owned subsidiaries. Its portfolio covers activities in drilling and seismic services.
SeaBird Exploration is a wholly owned subsidiary of SED Energy Holdings Plc, established as an international provider of seismic survey services and source vessel solutions for the energy industry.