Dubai: TGS-NOPEC Geophysical Company ASA (TGS) has signed a letter of intent with Oslo-listed seismic vessel operator Polarcus for the charter of an estimated six months of 3D vessel capacity.
TGS intends to charter a vessel from Polarcus in 2016 to acquire a number of individual projects in line with its 2016 investment plan. TGS will offer Polarcus the right of first refusal for the charter, which would be used to acquire discrete projects of up to 10,000 sq km in total.
Rod Starr, ceo of Polarcus, commented: “This is a positive LOI for Polarcus and we believe a testament to the strong operational performance of our fleet for TGS on both the recent project in the US and current program in Norway. We appreciate the trust being shown by TGS in our ability to deliver operational excellence globally and will be looking forward to continuing our close working relationship with them through 2016 and beyond.”
Earlier this month TGS signed a contract extension for Polarcus Adira (4,350 dwt, built 2012) for a further 3,000 square km of work in the Norwegian Barents Sea.