Sovcomflot has taken a seismic vessel from Polarcus on a long-term bareboat charter.
The Russian giant has hired the ship for five and a half years, in a deal that will generate a minimum revenue of $72m for the Middle East owner.
SCF has options to extend the charter for up to four months and can also buy the ship during the charter.
Polarcus will deliver the vessel in March without streamers and the streamer package, which will be used on other ships of its fleet.
Duncan Eley, Polarcus chief operating officer, said: “Securing this long-term revenue stream is testament to the company’s ability to adapt to the current environment.
“As well as strengthening Polarcus’ backlog and cash flow profile, this vessel commitment generates healthy tension in our current vessel schedule.”
This is the second Polarcus unit to be chartered by SCF and will be deployed in environmentally-sensitive areas thanks to its ice-class equipment.
The agreement between the two companies is subject to the consent of the banks.
Polarcus’ fixed backlog will be boosted by the latest deal from $110m to $225m.
