Polarcus Limited News

(Photo: Polarcus)

Polarcus Awarded Middle East Project

Marine geophysical firm Polarcus Limited announced it has won a contract from Dubai Petroleum Establishment for a combined towed streamer and ocean bottom node (OBN) 3D seismic acquisition and processing project in the Middle East.The project will commence in the first quarter of 2019 and run for approximately three months. The towed streamer seismic will be acquired by the vessel Vyacheslav Tikhonov. The OBN acquisition services for the project will be provided by fellow seismic data acquisition company SAE Exploration.Polarcus said the core of its fleet is heavily booked in the first quarter of 2019

(Photo: Polarcus)

Polarcus Wins 4D Project in the Far East

Marine geophysical company Polarcus Limited announced Monday that its subsidiaries have entered into a memorandum of agreement with Sovcomflot GEO (SCF GEO), to provide 4D marine seismic acquisition services in the Far East for a major exploration and production company.The program requires two Polarcus ICE-1A class vessels and will commence in Q2 2019 running for approximately three months, a total of six vessel months, Polarcus said.The company expects contractual arrangements and associated third party approvals to be finalized before the end of January 2019.

(Photo: Polarcus)

Polarcus Awarded Work in West Africa

Offshore geophysical company Polarcus Limited announced Monday that it has received a contract award for an XArray marine seismic acquisition project in West Africa.The project will commence in Q1 2019 with an approximate duration of two months.Polarcus said that with the award its fleet is 90 percent booked for Q1 2019.

(Photo: Polarcus)

PGS Sues Polarcus in Australia

Offshore geophysical company Polarcus Limited said it is being sued by PGS Australia Pty Ltd for patent claims relating to the acquisition of seismic data on three surveys in Australia and the processing of that data."These proceedings follow three years of intermittent correspondence from PGS in response to which Polarcus, supported by leading patent counsel, has provided overwhelming evidence that Polarcus' activity did not intersect the patent," the company said in an announcement on Friday.Polarcus said it intends to challenge the validity of all relevant aspects of PGS' Australian

(Photo: Polarcus)

Polarcus Wins 3D Project in West Africa

Offshore geophysical firm Polarcus Limited said Thursday it has received an award for a 3D marine seismic acquisition project in West Africa.The award comprises two surveys of approximately three months each, with the first survey expected to commence Q2 2019 and the second survey Q4 2019.

(Photo: Polarcus)

Polarcus Awarded 3D Project in Southeast Asia

Marine geophysical company Polarcus Limited said it has been awarded a 3D marine seismic acquisition project in South East Asia.The project duration is approximately four months and is scheduled to commence in Q4 2018.Following this award, the Polarcus fleet is 100 percent booked for Q4 2018.

(Photo: Polarcus)

Polarcus Names Oestergaard COO

Seismic vessel owner Polarcus Limited has appointed Lars Oestergaard as chief operating officer effective immediately. He will lead the company’s geophysical, operations and sales teams as well as the EHSQ department.Oestergaard joins Polarcus from Maersk Drillingm, where he held a number of operational and commercial roles, most recently as chief commercial officer.Oestergaard has been awarded 350,000 performance share units and 150,000 restricted share units under the Company's 2018 Long Term Incentive Plan. He currently holds no shares in the company.

Polarcus Scoops 3D Marine Seismic Project

Seismic vessel owner Polarcus Limited said it has been awarded an XArray 3D marine seismic acquisition project.The project duration is for up to 10 vessel months and is expected to commence in Q3 2018, providing backlog for two vessels throughout Q4 2018 and in to Q1 2019.

Polarcus Bags Broadband 3D Project in Asia Pacific

Polarcus Limited said it has secured a contract for a broadband 3D marine seismic project in Asia Pacific.   The one-month project is due to commence imminently and restores backlog in Q3 for the Polarcus fleet after part of a previously awarded project was reduced in scope.

Polarcus Wins Broadband 3D Project in Asia Pacific

Polarcus Limited said it has received a Letter of Award for a broadband 3D marine seismic project in Asia Pacific.    The project is due to commence in Q4 2017 and will run for approximately one month.

Polarcus Awarded XArray 3D project in South America

Polarcus Limited has been awarded a XArray 3D seismic acquisition project in South America for an undisclosed client.   Polarcus said the project will commence in the fourth quarter of 2017 and run for approximately 10 weeks.

Polarcus Wins 3D Seismic Project off South America

Polarcus Limited said it has received a letter of award for the acquisition of a 3D marine seismic project in South America.   The project will commence in Q1 2018 and has a scheduled duration of approximately 2 months.

File photo courtesy of Polarcus

Polarcus Awarded 4D Project in Asia Pacific

Marine geophysical company Polarcus Limited said it has received a letter of award for a 4D marine seismic acquisition project in the Asia Pacific region.  The project is due to commence in the first quarter of 2018 and will run for approximately one month. A Polarcus spokesperson said the company could not share further information around the project. Following this award the Polarcus’ active fleet is 100 percent booked for the first quarter.

Polarcus Awarded 4D Project in West Africa

Polarcus Limited said it has entered into a contract for a 4D marine seismic acquisition project in West Africa.     The project is due to commence in Q2 2018 and will run for approximately one month.  

(File photo: Polarcus)

Polarcus Scores Two Seismic Survey Projects

Marine geophysical company Polarcus Limited announced it has secured two offshore seismic survey projects.The company said it has entered into a contract for a two-month broadband 3D marine seismic acquisition project in Australia that will commence immediately.Polarcus also received a letter of award for an XArray 3D marine seismic acquisition project in Asia Pacific. The two-month project is slated to begin immediately after the Australian project.“These awards in Asia Pacific provide important visibility, extending a regional campaign for Polarcus well into Q3 2018,” Polarcus said.

Photo: Polarcus

Polarcus Fleet Booked through Q3

Polarcus Limited said it has received a letter of award for a broadband 3D marine seismic project in Asia Pacific. With this contract, Polarcus’ fleet is fully booked through to the end of the third quarter 2017. The project is due to commence in the third quarter of 2017 and will run for approximately one month.

Duncan Eley (Photo: Polarcus)

Polarcus Issues Share Options to CEO

Oslo listed Polarcus Limited has awarded 1,300,000 share options to the company's recently appointed Chief Executive Officer, Duncan Eley, in accordance with the company's 2016 share option plan of which the main terms were approved in the Annual General Meeting on May 12, 2016. Following the award, Eley holds 2,658,500 Options under the 2016 share option plan and 50,000 shares. The awarded share options have an exercise price of NOK 0.24, being the volume weighted average price for which the Polarcus shares have been traded at Oslo Stock Exchange in the prior 30-day trading period. The

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