Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to announce that the Company has received a Letter of Intent ("LOI") from an undisclosed client for an additional broadband 3D marine seismic survey offshore South America.
The project will commence in early Q4 2016 and run for approximately three months.
Commenting on the award, Richard Price, Senior Vice President, North & South America, said: "This award is very significant for Polarcus as it dovetails perfectly with previously announced projects we are acquiring offshore South America, extending our campaign for another three months through Q4 2016 and maximizing our fleet utilization by minimizing transit time between surveys."
Richard Price, SVP North and South America
+1 832 715 1772
Hans-Peter Burlid, CFO
+971 50 559 8175
Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs nearly 500 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)