Polarcus Scores Another Deal

Seismic contractor Polarcus has received a letter of intent (LOI) from an undisclosed client for an additional broadband 3D marine seismic survey offshore South America.

According to the Oslo-listed company, the project is planned to start in early Q4 2016 and run for approximately three months. The potential value of the project was not disclosed.

“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 Q4 2016 and maximizing our fleet utilization by minimizing transit time between surveys,” said Richard Price, senior vice president, North & South America.

This is the second award the company had announced this week, following the letter of intent for an XArray project in the Norwegian Barents Sea.