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.

Photo: Polarcus

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.