Polarcus Nets Seismic Deal in South America

Polarcus, a Dubai-based seismic contractor, has received a letter of award for the acquisition of a 3D marine seismic project in South America.

The project will start in the first quarter of 2018, the company informed.

The South American project is planned to last for approximately two months.

Polarcus did not disclose the value of the contract, nor the name of the client.

During the fourth quarter of 2017 Polarcus has seen a decline in its vessel utilization to 68 percent from 72 percent in the fourth quarter of 2016.

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