LEADING offshore seismic vessel operator Polarcus Limited has entered into a memorandum of understanding (MOU) to collaborate with TGS-NOPEC Geophysical Company ASA.

The two companies will work together to jointly develop selected 3D multi-client projects.

TGS will also 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 sq. km.

“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.