Polarcus nets 4D project off Norway
- Business & Finance
Marine seismic survey company Polarcus has received a Letter of Intent (LOI) for a 4D project over a field offshore Norway.
Polarcus said this would be the 8th monitor survey over the field and is part of an improved oil recovery (IOR) plan.
The survey is due to start in May 2016 and will run for approximately 8 weeks.
Commenting on the award Duncan Eley, Polarcus COO, stated: “We are very pleased to have been chosen for this 4D acquisition which has been designed to develop a monitoring program for optimal well placement and drainage of the field.
“The project now forms part of a substantial work program that we have for the coming season and underlines our commitment to the North Sea arena and to offshore Norway in particular”.
The seismic contractor did not reveal further details about the client nor the value of the deal.