Polarcus Gets West Africa Contract
Polarcus Limited has announced it has received a letter of intent for a 3D marine seismic project in West Africa. The client was not disclosed by the Dubai-based seismic vessel operator, who will utilise its RightBAND technique for the broadband data acquisition. The project is of two weeks duration and will form part of the Company's West African campaign during Q4 2015. The new contract is the company’s fourth announced this month with new projects won in Brazil, Australia and Myanmar. Polarcus is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs over 500 professionals worldwide
Drydocks World Dubai Delivers Polarcus Nadia
Drydocks World - Dubai has delivered the Polarcus Nadia, the most advanced seismic vessel built at the yard to date. The vessel, first of a series of four vessels to be built at Drydocks World – Dubai (DDW-D), is to be part of the Polarcus fleet, the Dubai-based marine geophysical company specialising in towed streamer marine data acquisition across the world. The double-hulled, 289.7 ft long Polarcus Nadia is an advanced 3D seismic vessel
Polarcus Receives 3-D Seismic Vessel
Drydocks World– Dubai delivered a 3D seismic vessel, Polarcus Asima, to Polarcus, a Dubai-based marine geophysical company. Polarcus Asima is the third in a series of six seismic vessels being built at the yard for Polarcus, following the vessels Nadia and Naila. The double-hulled, DP2 class Polarcus Asima incorporates many features to enhance performance with improved safety and comfort elements while ensuring minimum emissions
CGG to cut Vessel Fleet Further
French seismic group CGG said on Thursday it would further cut its fleet of seismic vessels after declining demand from oil and gas clients hit by the falling oil price led it to record an impairment and one-time charges of $643 million in the fourth quarter. Like peers across the oil services industry, CGG has been badly hit by cutbacks in the sector in 2014 as major producers slashed exploration to counter oil prices that have more than halved since June.
Dolphin's New 3D Seismic Vessel Fully Operational
Dolphin announced that the newly delivered high-capacity 3D seismic vessel, Polar Empress, is in full production towing 14 streamers on the Maud Extension Multi-Client survey in the Barents Sea. At the end of June, the vessel will mobilize for an exclusive contract with duration in excess of three months. Dolphin claims the special purpose built seismic vessel is one of the most advanced vessel in the industry
Seismic Business Link-up: Mitcham's Seamap & PGS
Mitcham Industries' marine equipment manufacturing unit, Seamap, has signed a manufacturing agreement with a subsidiary of Petroleum Geo-Services (PGS). Over the past several months, Seamap and PGS have collaborated to develop PGS SourceLink, a customized and proprietary marine energy source controller based on Seamap's GunLink 4000 system. Under the terms of the arrangement, Seamap will manufacture and sell the PGS SourceLink systems to PGS, as requested.
MAN Propulsion to Power Seismic Vessel
MAN Diesel & Turbo recently signed a contract for the supply of 8L32/44CR B.2 engines as part of a complete propulsion package to power a seismic vessel ordered by GC Rieber Shipping of Norway. The contract contains an option for an extra vessel. Four of the engines, along with two two-speed Flender Twin-In/Single-Out reduction gears and MAN Alpha Twin Screw CP propellers in AHT nozzles, will power the vessel. The seismic vessel is graded as Ice Class 1A*
Damen Completes Seismic Vessel Repairs on Time
Seismic Vessel 'Polarcus Adira' visits Damen Shipyards, Den Helder for repair, modification & installation work. Damen Shiprepair Den Helder (The Netherlands) was awarded the contract for modification work on the ‘Polarcus Adira’ operated by Dubai-based Polarcus, which operates one of the world's largest seismic vessel fleets. The vessel arrived on berth at Den Helder for insulation and lighting works in the Seismic Control Room; delivery and installment of Barovani Stands
ISS, CGG Ink Brazil Agency Deal
Inchcape Shipping Services (ISS), the world's leading maritime and logistics service provider, has signed a contract with CGG to provide offshore agency support services for a new oil and gas exploration project in the Barreirinhas Basin in the equatorial margin of northern Brazil. As a specialist geoscience company, CGG is conducting the multi-client seismic project, which will be the oil and gas industry’s first regional broadband survey of the Barreirinhas basin
Drydocks World Builds Second 3-D Seismic Vessel
Drydocks World – has built the seismic vessel NB65 for its client WesternGeco. A naming ceremony for the vessel, now called ‘WG Cook’ was held at the yard on July 1, 2010. The ultra modern high capacity 12-streamer 3-D seismic vessel is the second built at the yard for WesternGeco, a business segment of Schlumberger and one of the world's leading geophysical services company. The first vessel, WG Tasman was handed over in the first quarter of 2010.
Marlink Re-launches Sealink C-band VSAT Service
Marlink has re-launched its Sealink C-band VSAT service, this time introducing new price and service plans, enabling easier integration with existing and future Ka and Ku-band VSAT services. According to Marlink, the upgrade gives Sealink C-band VSAT users more flexibility to add alternative VSAT frequencies to their network in order to ensure availability of high-speed critical business and operational applications globally.
TGS Shares Fall after Q2 Sales Disappoint
Shares of the world's leading provider of geoscience data to oil companies TGS fell by more than 6 percent on Thursday, after disappointing sales in the second quarter. TGS reported $108 million in quarterly revenues, 6 percent below consensus, and compared with $114 million in the second-quarter a year ago. "Part of the problem was that TGS failed to sell more in Brazil, where PGS and CGG did well, or in Mexico
Wärtsilä, PGS ink Service Deal
Wärtsilä and PGS Geophysical AS have signed a service agreement that makes Wärtsilä the preferred service supplier for engines and other Wärtsilä equipment. According to the agreement, Wärtsilä will take care of the maintenance of engines and propulsion systems on board PGS's fleet of 8 seismic vessels, securing maximum uptime as well as safe and economic operations. PGS's seismic vessels are used for mapping and analysing the subsurface beneath
TGS Hires Polarcus for Europe
Polarcus has received a letter of award from TGS-NOPEC Geophysical Company, a marine seismic data acquisition specialist, for acquisition of 30,000 square kilometers of 3D multi-client data in Europe. Approximately 20,000 sq.km. will be acquired in 2017 utilizing two Polarcus vessels and its innovative XArray(TM) multiple source acquisition method to deliver extremely efficient, high quality broadband data.
SeaBird Exploration: 2D Long Offset in Belize
SeaBird Exploration, a provider of seismic data to the oil and gas industry, will acquire a long-offset survey offshore Belize. "We are pleased to announce that the company will acquire a long-offset survey in Belize, starting mid-October 2016," says a statement from the company. SeaBird will use the Northern Explorer to acquire the survey and the anticipated duration of the program is three to four weeks.
PGS Revenue Slumps
Petroleum Geo-Services ASA reported revenue fall in their recently released Second Quarter and First Half 2016 Results. It logged a healthy MultiClient Sales and continues to undertake cost reductions. Highlights Q2 2016 * Revenues of $183.0 million, compared to $255.8 million in Q2 2015 * EBITDA of $68.8 million, compared to $125.1 million in Q2 2015 * EBIT excluding impairments and other charges/(income) of negative $36
PGS, Radio Holland Expand Service Agreement
Norwegian marine geophysical company PGS has extended its non-exclusive service agreement with Radio Holland for navigation and communication services onboard nine seismic vessels in its global fleet. Radio Holland is known in the maritime industry for its NavCom and Maintenance services through its global network of more than 80 offices. Radio Holland Norway has worked with two PGS’ vessels (Ramform Atlas and Ramform Titan) on a Service Agreement for several years already
Schlumberger Led Consortium Wins Malaysia Offshore Survey
Malaysia has opened an area of its offshore waters to the multi-client seismic model for the first time. The move is a result of a new initiative by Petronas to stimulate offshore E&P investment activity. “A consortium comprising of PGS, TGS and Schlumberger WesternGeco, the industry’s three largest multi-client companies, have successfully won the tender for the rights to undertake a multi-client seismic program offshore Sabah,” TGS
Polarcus Grows Vessel Backlog
Seismic vessel owner Polarcus Limited announced it has received multiple awards which together extend the fleet backlog by six vessel months. The projects will be carried out by multiple Polarcus vessels and commence in the first and second quarters of 2016. Commenting on this latest awards, Duncan Eley, COO of the Dubai-based Polarcus, said, “Two of the awards are extensions of current projects. Such extensions reflect the excellent performance of our vessels and are beneficial to
Polarcus Deploys World’s Largest Manmade Object
Offshore geophysical company Polarcus is breaking production records off Myanmar, employing the largest manmade moving object on earth Polarcus is currently acquiring an ultra-wide 3D marine seismic project offshore Myanmar, for which its vessel Polarcus Amani is towing an in-sea configuration that measures 1.8 kilometers wide across the front ends. With each of the 10 streamers separated by 200 meters, the total area covered by the spread is 17
Caterpillar Scoops Platts Award
A new concept in ship propulsion developed by Caterpillar has triumphed at the 17th annual Platts Global Energy Awards in New York. Winning the Commercial Application of the Year category, the twin fin system secured the prestigious award for its innovative design and energy-saving potential across a range of ship types. The Cat Propulsion twin fin system is a new short-shaft diesel electric set-up which has already demonstrated significant fuel and emissions-saving benefits
Polarcus Extends Collaboration with Turkish Petroleum
Polarcus Limited announced a two-year extension of the support services agreement with Turkish Petroleum covering seismic data acquisition management, maritime management and crewing support. Reference is made to the stock exchange notice published by Polarcus on 02 January 2013 regarding long term collaboration agreements with Turkish Petroleum. Through this extension, Polarcus will continue to provide Turkish Petroleum the support services required to deliver safe
GC Rieber Shipping Earns Well
GC Rieber Shipping has more than doubled its net profit for the second quarter and recorded a year-on-year increase in profit on more vessels in operations and currency gains. However it has warned of a continued focus on shorter contracts in the future. In the second quarter of 2015, GC Rieber Shipping had a profit of NOK 103.4 million ($12.5 million), compared with a profit of NOK 43.5 million ($5.2 million) in the corresponding period in 2014.
JV for 3D seismic in Arctic
Paris-listed seismic giant CGG and Russia's largest shipowner, SCF Group (Sovcomflot), have formally registered a joint-venture company focused on coldwater surveys, reports Interfax. The joint venture, to be called Arctic Geophysical Exploration (AGE), will be 51 per cent owned by Sovcomflot and 49 per cent owned by CGG. The company will be incorporated in Russia with its headquarters in Moscow.
TGS Signs Vessel Charter Deal with Polarcus for 2016
TGS-NOPEC Geophysical Company ASA (TGS) signs letter of intent (LoI) for charter of an estimated six months of 3d vessel capacity from Oslo-listed seismic vessel operator Polarcus. TGS intends to charter a vessel from Polarcus in 2016 to acquire a number of individual projects in line with its 2016 investment plan. Under the terms of the LOI, TGS will offer Polarcus the Right of First Refusal (ROFR) for the charter of 3D vessel capacity to acquire discrete