Polarcus in two seismic projects off South America

Marine seismic company Polarcus has received two letters of intent from undisclosed clients for two additional marine seismic projects offshore South America.

Polarcus said the projects, one 3D using Polarcus’ RightBand technique for broadband data acquisition and one 4D monitoring survey, will start in 1Q and 2Q 2017, respectively.

The projects are expected to have a combined duration of five vessel months. Polarcus did not reveal the value of the deals nor any further details about the projects.

“We are pleased to see continued success in building backlog in the South American region with two of our low environmental impact vessels,” commented Richard Price, Senior Vice President, North & South America.

To remind, earlier this year, Polarcus received a letter of intent from an undisclosed client for a broadband 3D marine seismic survey offshore South America.

Price continued: “Since the vessels entered the region in early 2016, multiple awards such as these have enabled long-term efficient regional campaigns. We are pleased to be able to continue setting the performance standards for our industry clients in the region through the first half of 2017.”

The seismic company on Wednesday lowered its full year guidance for the estimated multi-client prefunding for 2016 as it expected to report a prefunding level of 120 percent for the full year 2016, down from previously guided 150 percent.

Offshore Energy Today Staff