Polarcus Limited has signed a Letter of Intent with an undisclosed client for a 3D marine seismic acquisition project offshore Brazil.
The company says that the program, subject to the execution of contract, is projected to start in Q2 2015 upon receipt of the required environmental permit, and is expected to run for approximately 30 days. Polarcus did not reveal the value of the contract, nor the name of the vessel to be used for this survey.
Following completion of the project, the Polarcus vessel will mobilize for a multi-client 3D project offshore Brazil, for Queiroz Galvão Exploração e Produção (QGEP). This second project forms part of the company’s existing backlog.
Polarcus is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole.