Polarcus Sees Vessel Utilization Increase

Polarcus, a Dubai-based seismic contractor, has recorded an increase in its vessel utilization during the second quarter of 2018.

Quarterly vessel utilization increased to 85 percent from 75 percent in the second quarter of 2017.

On the contracted basis the vessel activity has increased 6 percent, from 75 percent in Q2 2017 to 81 percent in Q2 2018.

The multi-client basis has also seen an increase from 0 percent in Q2 2017 to 4 percent in Q2 2018.

The company excluded Polarcus Nadia seismic vessel from vessel utilization numbers subsequent to cold-stacking in April 2015.