Polarcus, TGS in 3D MoU

OE Staff
Monday, October 17, 2016

Polarcus entered into a memorandum of understand (MoU) to collaborate with TGS-NOPEC Geophysical Co. to jointly develop selected 3D multi-client projects. New projects taken under the collaboration agreement will be announced separately as they occur.

Further, under the collaboration agreement, TGS will extend its vessel agreement with Polarcus entered in June 2015 for the charter of 3D vessel capacity. The extension will be valid through the end of 2017 for up to 10,000sq km.

"Polarcus is pleased to collaborate on its multi-client projects with TGS. The agreement will leverage the core strengths and expertise of both parties," stated Rod Starr, Polarcus CEO. "The collaboration will drive vessel utilization as well as allow Polarcus to expand its multi-client business with limited capital investment."

Categories: Vessels Geoscience Activity Geology

Related Stories

First Moray West 14.7MW Offshore Wind Turbine Comes Up

DEME’s Orion Vessel Heads to US After Finishing Scottish Offshore Wind Job

Allseas Makes Progress on Santos’ Barossa Gas Export Pipeline in Australia

Current News

US Plans 12 Offshore Wind Auctions Over Five Years

Equinor Wraps Up Hammerfest LNG Leak Repair, Maintains Friday Restart

Namibia Targets First Oil Production from Venus Field in 2029/2030

Second HVDC Platform Installed at World’s Largest Offshore Wind Farm

Subscribe for OE Digital E‑News