Polarcus receives charter extension, 4D project

Offshore staff

DUBAI, UAE – Polarcus Selma Ltd. and SCF Sakhalin Supply Ltd. have agreed to a three-year extension of the bareboat charter party agreement (BBCP) for M/V Vyacheslav Tikhonov, parent company Polarcus Ltd. announced.

Vyacheslav Tikhonov is an ice-class, eight-streamer seismic vessel that is wide-tow capable. Built by DryDocks World Dubai LLC in 2011, it is of the Ulstein SX133 design. It also has the inverted Ulstein X-Bow hull, which the designer said pierces waves of small heights and reduces pitching and bow.   

A five-year BBCP was signed by the companies in August 2011, with a statement noting that the agreement was viewed by both parties as the first step toward a larger strategic business alliance to serve the growing Russian seismic market.

This extension was carried out pursuant to SCF’s option within the terms of the current BBCP. The vessel charter will continue for a further period of three years starting from Aug. 18, 2016.

Polarcus also announced that it received a letter of intent for a 4D project over a field offshore Norway. This will be the eighth monitoring survey of the field and is part of an improved oil recovery plan.

The survey is due to commence in May 2016 and will run for approximately eight weeks.

02/12/2016

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