Duncan Eley News

Offshore seismic survey firm PXGEO announced it has appointed Tony Bowman as chief executive officer, effective April 3, 2023.Bowman joins PXGEO from an executive career at Schlumberger. During his almost 30-year tenure, he held a number of senior roles across multiple geographical locations, including president, WesternGeco as well as president, Schlumberger Information Solutions.Bowman’s appointment follows the departure of CEO Duncan Eley, who has decided to resign and leave PXGEO.

Seismic contractor Polarcus has extended the agreement with TGS-NOPEC Geophysical Company ASA (TGS) for an additional year. Under the agreement, the companies will continue to jointly develop selected 3D multi-client projects and TGS will extend its vessel commitment with Polarcus to the end of 2018 for up to 10,000 sq. km. The recently announced XArray project in the Gulf of Mexico with TGS forms part of this commitment. Additional awards under this commitment will be announced separately. "This agreement will continue to leverage the core strengths and expertise of both parties," stated Duncan Eley, Polarcus CEO.

A 5.5 year bareboat charter agreement between Polarcus Limited Norwegian subsidiary Polarcus Amani AS and SCF GEO AS (Sovcomflot) has been signed, and the vessel delivered to Sovcomflot in Bergen. The vessel was delivered without streamers, providing the Polarcus fleet with one excess streamer package, which the company said will significantly reduce its capital expenditure requirements through 2017 and 2018. The Polarcus Group now has two vessels on long-term bareboat charter and operates a fleet of four vessels in the contract market.

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 with the executive management team and Polarcus' Board of Directors for a transition period during the second quarter of 2017.

Polarcus Limited has announce that the Company has finalized a contract for 3D marine seismic acquisition in Australia. The program will deliver a high quality broadband data-set utilizing one of the Company's highly efficient Polarcus X-bow vessels operating under the Polarcus Explore Green environmental agenda. The project is due to commence in Q3 2017 and will run for approximately two months. In addition, the Company has secured a 30-day extension to the West African campaign initially announced on 09 January 2017. Commenting on the recent news flow from the Company, Duncan Eley, COO, stated: "The multiple awards announced recently are testament to our strong reputation with clients globally and our ability to secure key projects in the contract market…

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.

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 17.6 square kilometers, making for the largest in-sea configuration ever towed by a single seismic vessel, as well as the largest manmade moving object on earth. The achievement…

Polarcus Limited announced today that a primary insider of Polarcus has acquired shares in the company. Duncan Eley, Chief Operating Officer, has on November 14, 2014 acquired 500,000 shares at an average price of NOK 0.9542 per share, the company said in a press release. He owns 500,000 shares in Polarcus following the transaction.