Norway's Shearwater buys seismic company in deal worth billions

Norwegian seismic carrier Shearwater, owned by GC Rieber and the Rasmussen Group, acquires Schlumberger's seismic company in a transaction valued at USD 650 million.

Photo: GC Rieber

Offshore shipping company Shearwater Geoservices has settled a deal with Schlumberger to buy the oil service company's seismic business in a deal worth USD 650 million.

Shearwater is a joint venture between Norway's GC Rieber and former Norden shareholder Rasmussen Group. The deal comes after Schlumberger announced at the beginning of the year that seismic business WesternGeo was the only player which did not meet the company's profitability standards.

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