Nigdel United Oil Company Limited terminates 3D Ocean Bottom Cable Seismic Data Acquisition Contract Award to Geomarine Systems Limited.
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Nigdel United Oil Company Limited terminates 3D Ocean Bottom Cable Seismic Data Acquisition Contract Award to Geomarine Systems Limited.

Lagos, Nigeria, September 9, 2015 – Nigdel United Oil Company Limited (“Nigdel”), the Operator of OPL 233 field has terminated the erstwhile awarded 3D Ocean Bottom Cable Seismic Data Acquisition contract to Geomarine Systems Limited (“Geomarine”) for execution in the offshore-transition zone of OPL 233.

Having given proper assessment and evaluation of Geomarine’s delivery method and performance on the project in line with industry best practice, Nigdel resolved to terminate the contract with immediate effect due to gross under-performance by Geomarine.

Consequently, Nigdel is scheduled to commence arrangements for the re-award of the project in adherence to its approved work program requirements, and in tandem with the terms of its subsisting Production Sharing Contract agreement with the Nigerian National Petroleum Corporation.

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