Polarcus Ltd. announces that an award has been received for a wide-azimuth project to be acquired in the Americas.
Polarcus Naila and Polarcus Adira will perform the acquisition.
The project is expected to commence in early August 2019 with a duration of approximately four months; a total of eight vessel months.
With this new project, water will now comprise over 25% of the total company’s contract operations backlog.
Rig market utilization levels in the U.S. are expected to gradually increase between 2020 and 2025, but other global markets are predicted to make a speedier comeback.
The EPSm contract approach is an example of open innovation that delivers wells on a partial turnkey basis.