Polarcus: Secures fully pre-funded MC project in Australia
Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) is pleased to announce that the Company has secured high industry prefunding for the ‘Zenaide’ multi-client broadband 3D marine seismic project in the Bonaparte Basin, offshore Australia.
The project is scheduled to commence in Q4 2017 and will run for approximately six weeks.
NOPSEMA
The Zénaïde 3D MSS is a three-dimensional multi-client marine seismic survey proposed by Polarcus Seismic Limited (Polarcus) to be undertaken in Commonwealth waters located approximately 50 km off the Kimberley coast of northern Western Australia (WA). The Acquisition Area covers an area of approximately 3,300 km2 within the western Joseph Bonaparte Gulf of the Bonaparte Basin (title block WA-522-P) and is 60 km from the mainland coast in water depths of approximately 59 m – 97 m.
The planned seismic source has a total capacity of 3,090 cubic inches (cui) and will be towed at approximately 4.5 knots a short distance behind the seismic vessel at depths of 5 – 10 m. Ten solid hydrophone streamers, each measuring approximately 8,100 m in length and spaced 150 m apart, will be towed at a depth of approximately 15 m below the surface. The seismic source will be discharged every 12.5 m (approximately 5 seconds) along a series of parallel east-west lines spaced approximately 750 m apart. The surrounding Operational Area incorporates the necessary space for vessel manoeuvring such as line run-ins, run-outs, line-turns source testing, soft starts and turns, refuelling and resupply, use of support and supply vessels as required, and crew changes.
The Zénaïde 3D MSS is anticipated to commence as early as October 2017 following the acceptance of the Environmental Plan (EP) for the proposed activities by NOPSEMA. The acquisition time is expected to be up to approximately 50-60 days and to be completed before 31st December 2018.