Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to announce that the Company has received an LOI from an undisclosed client for a 3D marine seismic contract in Indonesia utilizing Polarcus' XArray (TM) technique for enhanced productivity and data quality.
Cameron Astill, Senior Vice President Asia Pacific, said: "It is a significant milestone to be awarded our first project in Indonesia. We look forward to deliver our client a high quality and efficient survey with the Polarcus XArray(TM) technique utilizing our triple-source configuration."
The project will commence in Q3 2016 and run for approximately two months.
Cameron Astill, SVP Asia Pacific
+65 6408 3801
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)