The deficit for the three last months of 2014 stood at NOK 255.5m ($33.7m), compared to profit of NOK 31.8m in the same stretch of 2013.

But quarterly revenue rose to NOK 259.4m from NOK 237.9m.

Eidesvik explained that amortization of NOK 52m related to three old seismic vessels has been taken into account in its latest report.

The fourth quarter performance has resulted in a NOK 233.2m