Seismic firm Polarcus' project cancellations highlight oil price slump

SINGAPORE (Reuters) - Polarcus Ltd , which operates ships that search for offshore oil and gas, announced two project cancellations that will reduce its fleet utilization next quarter, highlighting the effects of the oil price slump on the energy services sector.Polarcus' ships are used to collect seismic data from below the seabed that energy exploration companies examine to locate oil and gas deposits.A survey project in the Asia-Pacific region and one in West Africa has been cancelled, the..