Turkish Petroleum Extends Polarcus Support Services Deal
- Business & Finance
Polarcus has been awarded a one-year extension of the support services agreement with Turkish Petroleum.
The deal follows the extension of the support services agreement secured in January 2016, covering seismic operational support, maritime management and crewing support.
The initial contract was completed in 2013 when Polarcus agreed the sale and re-flagging of the 8-streamer 3D seismic vessel Polarcus Samur combined with the provision of the support services. The vessel was repainted red and white in the design of the new vessel owner and renamed Barbaros Hayreddin Pasa.
The total value of the first collaboration arrangement, including the sale of the vessel, was approximately $213 million. The value of the next two extensions was not disclosed.
Subsea World News Staff