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Polarcus signs MOU for multi-client collaboration and vessel agreement with TGS

Published by
Oilfield Technology,

The collaboration will include joint development of 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 10 000 km2.

"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 utilisation as well as allow Polarcus to expand its multi-client business with limited capital investment."

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