Polarcus gains extension of South American contract
- Business & Finance
Marine seismic data acquisition company Polarcus has secured an extension for its 3D seismic campaign in South America.
The company said on Wednesday that the extension is for a contract Polarcus won back in December of 2015.
Under the initial contract, the company conducted a 3D marine seismic project in South America utilizing its RightBAND broadband data acquisition technique for an unnamed client.
The first phase of the project was completed in August 2016 with the second one scheduled to begin in March 2017. It will be acquired over three months extending the regional campaign into the third quarter of 2017.
Polarcus did not disclose the financial details of the contract, but it did say that the project extension comes with an option to further expand the survey area.
Richard Price, Senior Vice President for North & South America at Polarcus, said: “It is very gratifying to receive this project extension, as it validates our exemplary safety and environmental performance and our operational efficiency, which has enabled us to meet the high standards expected by this major client.”