Shearwater Geoservices has received two separate letters of award from Oil and Natural Gas Corporation, each representing a large offshore 3D seismic survey in India. Combined, the two projects add approximately 15 vessel months of backlog for the company.
The awards, which will utilise two high-capacity 3D vessels, include a nine-month project offshore the west coast of India and a six-month survey on the east coast.
Shearwater reported that both projects are expected to commence early in the fourth quarter of 2026, materially strengthening vessel utilisation visibility into 2027.
“These awards represent a significant addition to Shearwater's backlog at attractive terms in a strategically important market,” stated Irene Waage Basili, Chief Executive Officer of Shearwater.
Basili added that Shearwater has maintained a continuous presence in India since 2016, leveraging knowledge of the local market to support ongoing operations with Oil and Natural Gas Corporation.
Both offshore projects are currently under letters of award while progressing toward final contract execution. The firm stated that final contract execution is expected during the third quarter of 2026.
