Dolphin Geophysical AS
Making waves
Based in Bergen, Norway, Dolphin Geophysical was formed by a team of well-known and experienced managers, recognised for their extensive work and backgrounds in the marine seismic industry.
Supported by a first class marine supplier, prominent industrial investors and boasting a proven track record, Dolphin Geophysical’s aim is to build itself into a full service marine seismic company, one that is fully prepared for the next decade of oil and gas exploration. The services offered by the company can be broadly split into two categories, multi-client services and marine acquisition.
From the time the business was first established in November 2010, Dolphin Geophysical has quickly built a lean organisation, proficient in the field of marine acquisitions. In its first year of business the company was able to amass a fleet of four vessels (with an additional two being built) the Polar Explorer (2D), Artemis Atlantic (2D), Artemis Arctic (3D) and the high capacity 3D vessel, Polar Duke, Dolphin Geophysical’s flagship vessel. Capable of towing up to 14 streamers at 100-metre separation, these vessels are some of the fastest and most efficient in the industry today, with a cruising speed of 20 knots. Operated in line with the highest of HSE standards and supported by the most efficient decision making processes in the industry, the company expects to further develop its fleet capacity over the next year, with the sister ship Polar Duchess set to be delivered in the first quarter of 2012.
Being a young, dynamic company, Dolphin Geophysical continues to take great strides in increasing its presence throughout the world by signing new project contracts and making moves to increase its own in-house capabilities. At the beginning of November, the company made the announcement that it had formally exercised its option to charter the Polar Duchess from Armada Seismic for an initial period of three years. With the option available to extend this charter for an additional period of eight years, the Polar Duchess will be taken on full charter in April 2012. A modern, high-capability vessel with a towing capacity of 14 seismic cables, Dolphin Geophysical will be hoping to build on the success of its sister vessel the Polar Duke, which has performed flawlessly since its initial launch. The chartering of the Polar Duchess forms just one part of the company’s extensive expansion plans.
Dolphin Geophysical has worked hard to assemble a particularly strong multi-client team that has considerable experience in working in all of the major markets and has a track record of opening up areas for multi-client seismic that went on to become some of the largest oil and gas finds of the last ten years.
Aggressively pursuing opportunities in the North Sea, Brazil, West Africa and the Gulf of Mexico, Dolphin Geophysical endeavourers to stay true to its philosophy that it only acquires multi-client contracts in areas that meet the highest fiscal and governmental standards, and have high hydrocarbon prospects. The company’s ultimate strategic goal is to provide, and maintain, the best possible image, not thelowest cost, by using only the latest available technology that can meet, or exceed, the most stringent industry requirements. From its own experience in this area, Dolphin Geophysical has proven that having the best image is of utmost value and to accomplish this the company employs a highly experienced internal team that oversees day-to-day testing, parameterisation and ensures geophysical integrity.
Another announcement made in the last month involves the acquisition of a new 2D multi-client seismic survey for Spectrum ASA, which covers several blocks in the northern equatorial margin off the coast of Brazil. This survey area contains recent discoveries in relatively unexplored basins as well as those blocks that are expected to be announced in the eleventh license round during the second quarter of 2012. The survey itself is supported by significant industry pre-funding and the seismic data will be acquired by the Polar Explorer before the data is processed at Spectrum’s processing centre in Houston ahead of the final products being delivered over the first two quarters of 2012.
The company’s team of seismic experts professionally runs a full-service geophysical organisation and has a tremendous track record in building solid enterprises. As a technology driven business, Dolphin Geophysical’s focus on human resources and creativity will remain paramount at all times. An approachable, open and friendly organisation, Dolphin Geophysical understands that its business is all about actingtogether with customers in recognising and creating business opportunities and it looks forward to taking every chance to provide these customers with its expertise in the years to come.
Atle Jacobsen, CEO concludes: “We are proud of the growth the company has had over the last 12 months and the hard work that all of our people have devoted to building the business. Two profitable quarters in Q2 an Q3 illustrate both the current cost base of the company and the efficiency of the vessels in the current market, and we now look forward to further growth in the market and our business in 2012.”
Dolphin Geophysical AS
Services: Exploration and marine seismic acquisition