Asia Pacific 3D seismic for Polarcus

Marine seismic player Polarcus has received letter of award to provide 3D seismic data acquisition services in Asia Pacific.

The deal follows recent memorandum of agreement with Somcomflot subsidiary for 4D marine seismic acquisition services in the Far East.

According to the Oslo-listed firm, the APAC project has an expected duration of two and a half months.

The project should commence in the first quarter of 2021, subject to relevant approvals, Polarcus noted.

The company has not disclosed the financial details nor the client.

Polarcus slipped into the red in Q3 2020 as revenue fell some 76 per cent compared to prior year due to the global slow-down on the back of the COVID-19 pandemic.

It reported third quarter 2020 loss of $13.5 million, versus profit of $13.7 million in Q3 2019.