Norway: Polarcus Receives Letter of Award from Statoil for 4D Seismic Acquisition Project

Polarcus Limited announces that the Company has received a Letter of Award from Statoil for a 118 square kilometer 4D seismic acquisition project over PL037 Statfjord Nord and Sygna in the Norwegian Sea, offshore Norway.

The project, subject to the execution of a service contract, will be acquired during the 2011 summer season and is expected to run for approximately 25 days.

About Statfjord and Sygna

The Sygna oil field is located in the north-east corner of the Statfjord area in the Norwegian North Sea. It began producing on 1 August 2000, and will most likely remain in production until the end of 2019. Sygna is shared between two production licences: 55 per cent lies in block 33/9 (Statfjord), and the remainder falls inside block 34/7 (Snorre). The development solution embraces a subsea template tied by a pipeline to the Statfjord C platform, which is 22 kilometres away.

Statfjord North was discovered by Norskald in 1977 and lies in block 33/9.

This field and Statfjord East are tied back to the Statfjord C platform as satellite developments.

Statfjord North lies about 22 kilometres north-east of Statfjord C, and has been developed with three subsea templates (D, E and F). These installations are tied back to Statfjord C with 10-inch flowlines. The D template is for water injection, while the other two handle oil production. One well slot is used for water injection at the Sygna field.

All installations on the field are subsea, and remotely operated from Statfjord C.

About Polarcus

Polarcus is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating an innovative design and advanced maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects worldwide and employs over 400 professionals.

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Source: , April 13, 2011