Seismic Shoot Offshore South Africa Begins
Africa Energy Corp., an oil and gas company with exploration assets offshore South Africa and Namibia, has announced the start of a new 3D marine seismic acquisition programme over the Paddavissie Fairway on Block 11B/12B offshore South Africa.The Brulpadda discovery is located on Block 11B/12B in the Outeniqua Basin 175 kilometers off the southern coast of South Africa.
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 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.
Eley to Take over as Polarcus CEO
Duncan Eley has been appointed chief executive officer of Oslo listed offshore geophysical services company Polarcus Limited, replacing Rod Starr, who has resigned following a two year reorganization period. Eley has been promoted to the CEO role from his current position as chief operating officer, succeeding Starr effective immediately. Starr will continue to work…
Polarcus Awarded 4D Project Offshore West Africa
Polarcus Limited has announced that the company has received a letter of award for a 4D marine seismic acquisition project offshore West Africa. The project is due to commence in Q2 2017 and will run for approximately one month.
Polarcus Wins Broadband 3D Project in Australasia
Polarcus Limited (OSE: PLCS) received a contract award for a broadband 3D marine seismic project in Australasia. The project is due to commence in Q4 2016 and will run for approximately one month.
Polarcus, Turkish Petroleum Extend Partnership
Polarcus Limited announced two-year support services agreement extension with Turkish Petroleum covering seismic data acquisition management, maritime management and crewing support. Polarcus signed on for long term collaboration agreements with Turkish Petroleum in January 2013. Through this latest extension, Polarcus will continue to provide Turkish Petroleum the support…
Polarcus Scores Broadband 3D Project in South America
Polarcus Limited has received a Memorandum of Understanding from an undisclosed client for a 3D marine seismic project in South America utilizing Polarcus' RightBAND technique for broadband data acquisition, the company announced. The project will commence in the first quarter of 2016 and will run for approximately four months. According to Polarcus, the RightBAND technique…
Polarcus Halts Repayments as it Seeks Restructuring
Polarcus Limited decided to formally address its long term financing structure with the aim of restructuring the Company's balance sheet and halt all payments of interest and amortization to all of its finance providers. In line with the Company's "2015 Agenda" earlier communicated, the Company has over the last twelve months taken a number of measures to improve its financial situation.
Polarcus Q3 Vessel Utilization Rises
Polarcus Limited announced the release of the Company's Third Quarter 2015 vessel utilization. The Company will be releasing its Third Quarter 2015 Report on 29 October 2015 at approximately 07:00hrs CET (10:00hrs UAE). A webcast and conference call will be hosted by Polarcus commencing at 08:00hrs CET (11:00hrs UAE). Conference call dial-in information will be published on 15 October 2015.
Polarcus Awarded Project Off West Africa
Polarcus Limited informs it has received a Letter of Intent (LOI) from an undisclosed client for a 3D marine seismic project offshore West Africa utilizing Polarcus' RightBAND technique for broadband data acquisition. The project, subject to the execution of a service contract, will commence in Q3 2015 and is expected to run for approximately 60 days.
Polarcus Divests from Select Projects in Europe, Africa
Polarcus Limited announced it has signed a Letter of Intent (LOI) with TGS-NOPEC Geophysical Company ASA (TGS) for the sale of its multi-client projects in Northwest Europe and West Africa (MC Projects) in return for a cash consideration of $27.5 million and future revenue share on library late sales. The agreement includes an upfront cash payment, a tiered revenue share…
Polarcus Awarded 3D Project Off West Africa
Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa. The project, to be acquired by Polarcus Nadia and subject to the execution of a service contract, will commence in the first quarter of 2015 and is expected to run for approximately 21 days.
