Nordic Business Report-May 11, 2006-Arrow Seismic ASA receives letter of intent for seismic vessel from WesternGeco
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The Norwegian shipping company GC Rieber Shipping ASA said on Thursday (11 May) that its 54%-owned subsidiary Arrow Seismic ASA has received a letter of intent for a three-year charter for a seismic vessel from WesternGeco.
Under the proposed agreement WesternGeco will purchase the vessel, currently under construction, after the charter period.
The agreement, including the sale, is estimated to be worth EUR115-125m.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
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