Polarcus is taking further action to streamline its organization and adjust its operational capacity to adjust to current market conditions for seismic services.
(Courtesy Polarcus)
Offshore staff
DUBAI, UAE – Polarcus is taking further action to streamline its organization and adjust its operational capacity to adjust to current market conditions for seismic services.
The company said it has streamlined and re-shaped its offshore and onshore organization with a 20% reduction in staff.
Over the near term, marine seismic acquisition activity levels are likely to stay low, Polarcus warned, with limited visibility on future projects.
However, discussions with key clients and the strengthening oil price suggest that seismic demand will improve during 2021.
The measures the company has taken should allow it to scale up when the revival occurs, it added.
