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Polarcus awarded seismic data contract

Polarcus awarded seismic data contract
Seismic specialist firm Polarcus has been awarded a contract from TGS-NOPEC Geophysical Company for the acquisition of 30,000 km sq of 3D multi-client data in Europe.

The Dubai-based company will acquire approximately 20,000 km sq of data in 2017, using two if its vessels and its multiple source acquisition method to deliver data.

The project is scheduled to begin in the second quarter of 2017, with the remaining 10,000 km sq to be acquired in the second quarter of 2018.

"Polarcus is very pleased to expand its collaboration with TGS for this major award," said Rod Starr, Polarcus ceo.

"A project award of this magnitude will drive vessel utilisation and provide significantly improved visibility for Polarcus."

The contract award will come as a boost to Polarcus, which has previously said it expects a ‘challenging’ 2017.

Following this award, Polarcus said its booked capacity for its fleet is as follows: Q1-2017 at 75%; Q2-2017 at 70%; Q3-2017 at 60%; and Q4-2017 at 20%. 

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