Polarcus Samur upgraded to eight streamer capacity

Polarcus Limited has announced that the company is upgrading Polarcus Samur from the current six streamer arrangement to an eight streamer configuration.

The upgrade will enable the company to take advantage of the evolving seismic market environment and provide the flexibility to tender the vessel on a larger number of contracts. This will have a positive effect on the vessel’s revenue generating capabilities that are projected to increase by an additional 25%. The company’s design studies have determined that the upgrade can be undertaken with a vessel CAPEX increase of only 2.5%, or US$ 3 million, and with no material change to the present guided delivery date of end Q4 2010.

After the upgrade, to be undertaken at the Drydocks World - Dubai shipyard, prior to delivery of the vessel, Polarcus Samur will be capable of deploying up to eight streamers each of 6000 m length, or six streamers each of 8000 m length, with lateral streamer separations of between 25 - 200 m. The additional 14 km of streamer required for the new configuration has been ordered under the company's existing vendor lease facility.

Published on 21/09/2010

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