Shearwater Geoservices AS (Shearwater) and TotalEnergies have signed a three-year firm capacity reservation agreement (“CRA”) for worldwide marine seismic streamer acquisition services.

The CRA reflects the longstanding relationship between TotalEnergies and Shearwater straddling across geophysical data collection and analysis, supporting exploration effort, production monitoring and carbon capture and storage activities. The CRA guarantees a minimum of 18 vessel months of activity for Shearwater’s high-end seismic fleet.

“Shearwater seeks to evolve the global marine seismic market through technology innovation and by developing new commercial models. We are proud to deliver on plan through this strategic collaboration with TotalEnergies, a longstanding client of Shearwater and one of the true explorers in our industry. This capacity agreement is the first of its kind with a major E&P company. This strategic CRA will in addition to providing valuable visibility for both parties and utilisation for Shearwater, also offer a great platform for potential further collaboration across other services in our portfolio. We are very pleased to have reached this agreement with TotalEnergies. Our aligned interests and a focus on new frontier areas makes us a very complementary fit, and we look forward to start delivering on this agreement supporting TotalEnergies global exploration strategy.,” said Irene Waage Basili, CEO of Shearwater.

About Shearwater

Shearwater is a global marine geoscience and technology business that specialises in collecting data offshore. The organisation uses state-of-the art seismic vessels and equipment to explore the seabed and processes the data using market-leading proprietary software. These insights help clients understand the Earth and make informed decisions about accelerating responsible use of its resources. Shearwater’s headquarters is in Bergen, Norway, with more facilities all around the globe. The company employs around 1280 people.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.