BERGEN, Norway –Arrow Seismic ASA has modified its conversion plans for the Polar Sea to convert it into a source vessel at a cost of $24 million. It is scheduled to be operational in Nov. 2007.
"This decision is a consequence of the strong demand and improving rates experienced for source vessels," says Hans Petter Amundsen Klohs, CEO. "Arrow can take advantage of the strong market by completing the conversion as early as November 2007. The accelerated conversion schedule is made possible by the fact that winches and compressors for the vessel already are delivered."