The company was founded in 2008 in Dubai, UAE. After defaulting on debts, lenders took control of the company in January 2021.[4] Shearwater GeoServices bought six seismic acquisition vessels for $127.5 million and streamers and related seismic equipment formerly owned by Polarcus for $50 million.
The company described itself as having a strong environmental focus that aims to decrease emissions to both sea and air.[1] Polarcus vessels have received high energy efficiency and environmental performance ratings.[2][3]
Polarcus Amani Seismic research Vessel
The company was founded in 2008 in Dubai, UAE. After defaulting on debts, lenders took control of the company in January 2021.[4] Shearwater GeoServices bought six seismic acquisition vessels for $127.5 million and streamers and related seismic equipment formerly owned by Polarcus for $50 million.[4]
Polarcus listed its shares on the Oslo Stock Exchange OTC list in 2008, and in 2009 began trading on the Oslo Stock Exchange OSE list, under the ticker PLCS. The company was delisted in 2021.[4]
