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Joe Mcseismic

Seismic Survey Workers

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Seems to me still very quiet on the seismic survey front. Lot's of people still out of a job.

The agency I use say optimism is up among the oil companies, but, this hasn't translated into more surveys, yet.

Seems to be increasingly busy in the GoM and Brazil, also in West Africa, but, still dead in SE Asia and the Far East.

Those who work for day rate report that the rates have stopped dropping, but, are not yet increasing.

With the demise of Westerngeco, there are even more people looking for work.

 

What's your situation and what's your take on the industry?

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13 hours ago, Joe Mcseismic said:

Daily rates for seismic workers are up. Some up 25% from their low.

Citation needed there Joe.

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On 10/18/2018 at 1:22 AM, Joe Mcseismic said:

With the demise of Westerngeco, there are even more people looking for work.

And much more recently, CGG have waved the white flag and after current contracts are fulfilled, they are completely exiting the land seismic market while retaining only 3 vessels for wet work.

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On 10/18/2018 at 1:22 AM, Joe Mcseismic said:

Seems to be increasingly busy in the GoM and Brazil, also in West Africa, but, still dead in SE Asia and the Far East.

Correct. The SEA and Far East marine seismic market has traditionally been enabled by the ebb and flow of contractors vessels between the traditional, seasonal theaters offshore India and the Antipodes. Since the Indians have moved away from their large surveys that typically were over-sized and impractical for single-season completion to smaller, more manageable surveys, this has killed the 'see you next year' aspect of those 'endless' jobs. Meanwhile, offshore Australia has been handicapped since around 2014 by the environmental overkill that came with the restructured and renamed NOPSEMA that has stymied so many jobs that the operators exploration budgets expired and the few contractors gave up the ghost. Multiclient work has once again been the the only thing quietly ticking over but pre-funding of these still takes time.

 

So yes, things are definitely picking up in the other areas you mentioned and if you have an address, spare room or even a sofa at a relative or friends house nearer the action, relocating back there from this backwater, even temporarily, may leverage getting work. Although day rates may be increasing, there's still a preference to avoid long-distance, expensive mob and demob costs. My excuse for toughing it out over here is I refuse to share the sofa at my sisters house with her cat.

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^ Good that you're staying busy during the slump. Things are picking up on this side of the globe and downunder. I was reading about a major contractor seeing ~35% uplift on what E&P companies are willing to pay so, whatever your current day rate is, there's your marker for your new day rate... or as my mate, consigned to the beach for far too long wryly commented, "Thirty five percent of bugger all is still bugger all."

 

Unless of course you're a salaried employee. Different mechanisms there.

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I was on a WesternGeco boat just before they shut up shop. Huge, luxurious, and empty, the writing was on the wall. I've heard about wind farm projects planned near Taiwan and Sulawesi, and there are projects off the Atlantic coast of the USA, and still work in the North Sea, who knows what the recent oil price news will bring.

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I have managed to keep a 60% employment rate so far this year between Myanmar, Vietnam and Australia. Marine seismic companies in the far east are still in love with multiclient (MC) so jobs fewer and farther between and less boats over this way. Australia will have a few longish jobs for actual clients among the prefunded MC dross next year that may entice a few more boats back here. India, traditionally a source of 'big', multi-seasonal contracts looks like they have revised that strategy into smaller, single-season jobs. If India and Australia can stabilize, then things look half decent for southeast asia getting the ebb and flow of boats in between the two. However, the regional national oil companies are either pleading poverty (Malaysia) or are shell-shocked after huge corruption scandals (Vietnam) so leaving it to the smaller operators to get their finances in order to take on any exploration. Not many have the dosh due to the depressed prices on the market. Still a bean counters market.

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I hear there's a project coming up south of Sulawesi soon. Fishing boats are a bit of an issue around Taiwan.

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Im in ROV ,,  last year most of my work last year was wind farm related in Germany, Holland  and Norway,,  and cable and debris  survey for potential big new projects in Taiwan and Indonesia ,, hopfully I will get on those ??

 

 

 

not sure about this year yet  ,  some say a lot of oil and gas  regulatory survey work required by insurance companies and governments ??,  wind farms  still ongoing , only want 100 days  work ,, The ROV side of the industry recently is a snake pit ,, lots of <deleted> and cliques and poor rates  some of the Operators are also on shaky finaces  and there was more bankruptcies   and consolidation in the industry ,  my survey mates  were busy last year but ROV work was slow many guys did not hit full days offshore targets .

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On 2/8/2020 at 9:28 PM, codebunny said:

I hear there's a project coming up south of Sulawesi soon. Fishing boats are a bit of an issue around Taiwan.

Sulawesi... home of the FAD.

 

The Taiwanese fishing boats absolutely rule and there's no amount of community liaison, running interference, search lights, fog horns and pyrotechnics that will change this. Absolute nightmare towing a single cable through that lot, let alone a 3D spread.

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