Norwegian geophysical player Magseis has signed a letter of intent to charter a vessel from a big OSV player.
The unnamed "large provider" of tonnage will also provide seismic equipment.
Magseis also said its operational performance continues to be strong and it expects first quarter revenue to be at least in line with the final three months of 2016.
"With the recent announcement of an extension to the ongoing survey in the Red Sea, backlog now amounts to more than $65m for 2017 and the company is ready to embark on its previously announced expansion plans," it added.
