Polarcus Sees Drop in Vessel Activity in Q4

Polarcus, a Dubai-based seismic contractor, has recorded a decrease in its vessel utilization during the fourth quarter of 2017.

Quarterly vessel utilization declined to 68 percent from 72 percent in the fourth quarter of 2016.

On the contracted basis the vessel activity has increased 3 percent, from 55 percent in Q4 2016 to 58 percent in Q4 2017.

The multi-client basis has seen a decrease from 17 percent in Q4 2016 to 10 percent in Q4 2017.

The company excluded Polarcus Nadia seismic vessel from vessel utilization numbers subsequent to cold-stacking in April 2015.

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