Shearwater acquires Schlumberger seismic assets

Multinational

BERGEN, August 22, 2018 – Norway’s Shearwater GeoServices will acquire Schlumberger subsidiary WesternGeco’s seismic acquisition assets and operations for USD 650 million, the Norwegian company announced on Wednesday.

Assets listed in the deal include 10 seismic acquisition vessels, 12 streamer sets, two source vessels and development and manufacturing facilities in Norway and Malaysia, along with WesternGeco proprietary marine seismic technology.

WesternGeco is a geophysical business providing seismic acquisition and software and related services.

“We will combine two strong complementary businesses and create an industry-leading full-service geophysical company with a solid financial and strategic platform,” Shearwater CEO Irene Waage Basili said in a company statement.

In January, Schlumberger announced it would quit the seismic business, converting WesternGeco into an “asset-light” business centred on data processing and geophysical interpretation.

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