Polarcus bags contract wins

Polarcus Ltd. has provided updates on several projects, including that it had picked up two new jobs in as many days.

Offshore staff

DUBAI, UAEPolarcus Ltd. has provided updates on several projects, including that it had picked up two new jobs in as many days.

The company received a letter of intent (LOI) from an unnamed client, for an additional broadband 3D marine seismic survey offshoreSouth America. Beginning in early 4Q, the project is expected to run for around three months.

Previously, the company announced that thePolarcus Alima had begun the first of three 3D seismic projects offshore Brazil.

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 4Q 2016 and maximizing our fleet utilization by minimizing transit time between surveys.”

The company also recently was awarded an LOI for a project in the Norwegian-Barents Sea for an undisclosed client. It will use its own XArray acquisition configuration on the survey, which is due to run for around four weeks beginning in August, after the required authorization has been obtained.

Polarcus said that the work extends its northwest Europe campaign and also that it replaces aproject in Morocco that the company originally announced in May. No further details on the Morocco job were provided.

06/15/2016

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