Polarcus wins 3D seismic gig in South America

  • Business & Finance

Offshore geophysical company Polarcus has received a Letter of Intent (LOI) from an undisclosed client for an additional broadband 3D marine seismic survey offshore South America.

The company revealed on Wednesday that the project will start in early 4Q 2016 and run for approximately three months, but did not reveal the identity of its client nor the value of the deal.

Commenting on the award, Richard Price, Senior Vice President, North & South America, said: “This award is very significant for Polarcus as it dovetails perfectly with previously announced projects we are acquiring offshore South America, extending our campaign for another three months through Q4 2016 and maximizing our fleet utilization by minimizing transit time between surveys.”

While the geophysical company did not reveal the name of the vessel to be used for this project, the company’s investor presentation from the end of May 2016 shows that Polarcus has two vessels in South America, the Polarcus Adira and Polarcus Alima.

Polarcus also recently received a LOI for an XArray project in the Norwegian Barents Sea due to start in August 2016.

Offshore Energy Today Staff

Related news

List of related news articles