What Does Polarcus Do?

Total employees109
HeadquartersDubai
Founded2008

Polarcus was a marine geophysical company specializing in high-end towed streamer seismic acquisition services for the oil and gas industry worldwide. Founded in 2008 and headquartered in Dubai, UAE, Polarcus operated a fleet of modern, high-specification 3D/4D seismic vessels designed for efficiency and environmental responsibility. They were known for their innovative XARRAY™ seismic acquisition technology. In early 2021, Polarcus's seismic acquisition assets, including its fleet and operations, were acquired by Shearwater GeoServices, effectively integrating Polarcus into Shearwater's larger global operations. Polarcus as an independent entity ceased operations post-acquisition.

Where Is Polarcus's Headquarters?

HQ Function

Served as the central hub for global operations, strategic planning, fleet management, sales, marketing, and corporate administration.

Notable Features:

Located in Almas Tower, one of the prominent skyscrapers in the Jumeirah Lakes Towers (JLT) free zone, known for hosting commodity and service companies.

Work Culture:

Polarcus fostered an international and dynamic work environment, emphasizing innovation, safety, and operational excellence in the demanding offshore seismic industry. The culture was performance-driven and focused on delivering high-quality geophysical data.

HQ Significance:

The Dubai HQ was strategically positioned to serve key oil and gas markets in the Middle East, Africa, and Asia, while also providing a global operational base.

Values Reflected in HQ: The choice of a modern, well-connected location likely reflected Polarcus's values of professionalism, technological advancement, and global reach.

Location:

Prior to its acquisition, Polarcus had a significant global presence, operating its fleet of advanced seismic vessels in all major offshore oil and gas basins worldwide. This included regions such as the North Sea, West Africa, Gulf of Mexico, South America, and Asia-Pacific. Its global functions were supported by strategically located offices for sales, project management, data processing liaison, and operational support.

Street Address:

Almas Tower, Level 31, Jumeirah Lakes Towers

City:

Dubai

State/Province:

Dubai

Country:

United Arab Emirates

Where Else Does Polarcus Operate Around the World?

London, United Kingdom

Address: CityPoint, 1 Ropemaker Street, London (example, verify specific address)

Strengthened client relationships and business development in the EAME sector, a critical market for seismic services.

Houston, Texas, USA

Address: Energy Corridor, Houston (example, verify specific address)

Provided a direct presence in one of the world's largest oil and gas exploration and production markets.

Singapore

Address: Central Business District, Singapore (example, verify specific address)

Facilitated business growth and project execution in the strategically important Asia-Pacific energy sector.

Buying Intent Signals for Polarcus

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Notable news
Hiring actively
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
*Example signal, not calculated in real time

Who's Leading Polarcus? Meet the Executive Team

As of April 2025, Polarcus' leadership includes:

Duncan Eley - Chief Executive Officer (at time of acquisition)
Hans-Peter Burlid - Chief Financial Officer (at time of acquisition)
Lars Oestergaard - Chief Operating Officer (at time of acquisition)

Who's Investing in Polarcus?

Polarcus has been backed by several prominent investors over the years, including:

GC Rieber Shipping ASA (Founding partner and significant shareholder)
Various institutional investors via the Oslo Stock Exchange (where Polarcus was listed as PLCS)
Private equity funds and investment groups

What Leadership Changes Has Polarcus Seen Recently?

Hire0
Exits3

The most significant executive changes at Polarcus in its final 12-18 months of operation were primarily related to its financial restructuring efforts and ultimately its acquisition by Shearwater GeoServices in early 2021. This event led to the dissolution of the Polarcus executive team as the company's assets and operations were integrated into Shearwater.

Departures

Duncan Eley, Departed as CEO following the acquisition by Shearwater GeoServices.
Hans-Peter Burlid, Departed as CFO following the acquisition by Shearwater GeoServices.

New Appointments:

N/A, No new executive appointments to Polarcus in its final months; the company was acquired and its leadership structure dissolved.

What Technology (Tech Stack) Is Used byPolarcus?

Discover the tools Polarcus uses. Highperformr reveals the technologies powering your target accounts — helping your sales, marketing, and GTM teams prioritize smarter and close faster.

Polarcus Email Formats and Examples

Polarcus likely used standard corporate email formats. Common patterns include first name initial followed by last name, or first name dot last name, at their domain polarcus.com. These formats are no longer active.

flast@polarcus.com (e.g., jdoe@polarcus.com) OR first.last@polarcus.com (e.g., jane.doe@polarcus.com)

Format

jsmith@polarcus.com

Example

0%

Success rate

What's the Latest News About Polarcus?

Shearwater GeoServices • January 26, 2021

Polarcus news: Shearwater GeoServices to Acquire Polarcus’ Seismic Acquisition Assets

Shearwater GeoServices Holding AS announced it had reached an agreement with Polarcus Limited for Shearwater to acquire Polarcus’s fleet of seven seismic acquisition vessels, related equipment and intellectual property. This strategic move aimed to consolidate the marine seismic market....more

Offshore Engineer • March 31, 2021

Polarcus news: Shearwater Completes Polarcus Fleet Takeover

Shearwater GeoServices announced the completion of the acquisition of Polarcus's seven seismic vessels, along with their streamers and related seismic equipment. The transaction included the Polarcus operating entities, intellectual property, and software....more

Splash247 • December 16, 2020

Polarcus news: Polarcus enters into standstill agreement with lenders

Polarcus announced it had entered into a standstill agreement with its lenders to facilitate discussions regarding a long-term financial solution for the company, amidst challenging market conditions in the seismic industry....more

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