TGS Hires Polarcus for 3D Shoot

  • Business & Finance

Norwegian seismic contractor, Polarcus, has inked a Letter of Award (LOA) with TGS-NOPEC Geophysical Company ASA (TGS) for the charter of POLARCUS ADIRA, the Company’s 3D seismic vessel.

According to TGS, Polarcus is to acquire 3,000 square kilometers of 3D seismic data in Northwest Europe with a potential extension of up to a total of 7,000 square kilometers.

The project is expected to start in April 2015, and it is subject to the issuance of seismic acquisition permits from the relevant authorities.

The charter is for 3 months duration with an option for a further 3 months.

Commenting on this latest award, Duncan Eley, COO Polarcus, said: “With this and other recent project awards, the Company has demonstrated its ability to capture significant market share in a challenging business environment, providing Polarcus with very good visibility for the next three quarters.”

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