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By 2012 there will be 65 high-specification seismic sur- vey vessels on the market, meaning that in just over four years from its founding, Dubai-based Polarcus will own nearly 15 percent of the market. The company is quickly amassing its fleet of $170m, ultra-modern seismic survey vessels in hopes of delivering a unique value proposition to the companies who employ them, according to Peter Zickerman, Executive Vice President. To date Polarcus – which Zickerman calls “a pure-play Seismic 3D/4D marine geophysical company” – has ordered a series of eight vessels at a price tag of $170m per. Of this eight, the first six are being built down the road from Polarcus’ HQ at Dubai Drydocks (three of which are already delivered); and the additional pair will be built at Ulstein. The cumulative $1.36b total investment in new ships is significant, as is the varying capabilities of each: the first two vessels are equipped with 10 streamers; num- bers 3 and 4 have 12 streamers; numbers 5 and 6 have eight streamers; and numbers 7 and 8 offer 14 streamers. Why the variety? “We collect data, and it’s all about getting the best data. Larger vessels with more streamers are more expensive, and the vessels with smaller capability are more efficient on the smaller jobs,” said Zickerman. The Fleet Central to the Polarcus story is the incorporation of the latest technologies, leveraging emerging capabilities to help its clients maximize the potential of new and existing energy fields. The company brings to market ultra-mod- ern seismic vessels, all incorporating advanced maritime and environmental features including the innovative Ulstein X-BOW design and capable of operating in the most challenging of conditions. Perhaps the most challenging, the Arctic, presents an intriguing business opportunity, as the region potentially The company brings to market ultra-modern seismic vessels, all incorporating advanced maritime and environmental features including the innovative Ulstein X-BOW design and capable of operating in the most challenging of conditions. 38 MTR April 2011 Photo Cour tesy Polar cus
