Polar Duchess in Steady Production

The Norwegian seismic survey company Dolphin Geophysical has recently christened a new high-capacity 3D vessel, Polar Duchess. She entered into steady production for TGS in the Barents Sea on 14 April 2012. The six-month contract was announced previously. The vessel is chartered on an initial 3-year time-charter from Armada Seismic from 6 April 2012, and Dolphin has the option of further extending the charter with an additional 8 years.

The second large 3D vessel, Polar Duke, is expected to complete Dolphin Geo’s first 3D multi-client project in Senegal during the first half of May. The vessel will then be relocated to the Barents Sea to start a previously announced 3D contract. The vessel was originally scheduled for an exclusive contract in South America, However, Dolphin was not in a position to extend the letter of award due to uncertainty related to contract start-up. Polar Duke is currently marketed in the North Sea region with July availability.