Wednesday, June 8, 2022
HomeWorld NewsInexperienced Power Group awarded new OBN contract

Inexperienced Power Group awarded new OBN contract


Inexperienced Power Group, previously Seabird Exploration, has signed an ocean backside node (OBN) supply contract with an undisclosed shopper within the Western hemisphere. 

The contract, with an undisclosed worth, is predicted to start within the second half of August and final for round 14 months, together with mobilisation and demobilisation actions. 

Inexperienced Power Group generated round $5m in income from its seismic enterprise within the first quarter of 2022, up from $3.7m similar time final yr.

The Oslo-listed firm inked a letter of intent in April concerning a possible sale of its seismic operation, granting exclusivity to a celebration for a interval to conduct due diligence. The potential buy worth will likely be calculated on the idea of an enterprise worth of $53m on a money and debt-free foundation and with an agreed stage of working capital.

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