Shearwater Geoservices Secures Seismic Survey Contract with ExxonMobil Affiliate.

Shearwater Geoservices has won a seismic survey contract from ExxonMobil affiliate. ExxonMobil is an oil group with 3 areas of activity: refining and distribution, petrochemicals, and exploration and production of hydrocarbons. The contract win highlights Shearwater's expertise in seismic survey services.

Bergen, 26 August 2025 – Shearwater Geoservices AS (“Shearwater”) has announced the award of a deepwater Ocean Bottom Node (OBN) seismic survey offshore Angola by ExxonMobil’s affiliate Esso Exploration Angola Block 15 Limited. The two-month project is scheduled to commence during Q3’25.

The project will be delivered using Shearwater’s proven OBN platform, featuring the SW Tasman and Pearl node system, with SW Gallien deployed as the source vessel. Irene Waage Basili, CEO of Shearwater, stated, “Being selected by ExxonMobil to perform this OBN survey in Angola is a real testament to Shearwater’s OBN platform. This award reflects our strong track-record in delivering high-quality OBN surveys and the trust our clients place in us to support their strategic exploration goals.”

ExxonMobil, a global energy group, operates in three main areas: refining and distribution, petrochemical production, and hydrocarbon exploration and production. The OBN survey contract with Shearwater is part of ExxonMobil’s broader strategy to enhance its exploration capabilities and adapt to changing crude oil supplies. The company is also planning to overhaul a small crude distillation unit (CDU) at its Beaumont, Texas refinery by 2026 to increase its capacity to process heavier crude oil [1].

This award underscores Shearwater’s expertise in seismic survey services and highlights the company’s momentum in the OBN market. The contract win comes at a time when ExxonMobil is focusing on operational excellence and resilience, as seen in its recent Q2 2025 earnings report, which demonstrated operational excellence with normalized earnings per share (EPS) of $1.64 beating consensus estimates by $0.08 and revenue of $81.51 billion exceeding expectations by over $1 billion [2].

References:
[1] https://www.ainvest.com/news/exxon-overhaul-small-cdu-beaumont-refinery-2026-2508/
[2] https://seekingalpha.com/article/4816006-why-exxon-mobil-strong-fundamentals-technical-setup-compelling-buy