Norwegian Shearwater GeoServices has received two letters of award (LOAs) from India’s government-owned Oil and Natural Gas Corporation (ONGC) for 3D seismic surveys offshore India which together add approximately 15 vessel months of backlog.
The awards cover a nine-month project offshore India’s west coast and a six-month survey on the east coast.
Both projects are described as large and are expected to begin early in the fourth quarter of 2026, materially strengthening vessel utilization visibility into 2027.
They are currently under LOA and are progressing toward final contract execution, expected during the third quarter.
“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,” said Irene Waage Basili, CEO of Shearwater.
“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.”
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