Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to announce the commencement of production in the first of a series of three 3D seismic projects offshore Brazil, the project is being acquired using the Polarcus A-Class 3D seismic vessel, Polarcus Alima.
The first project is being acquired for Chariot Brasil Petróleo e Gás Ltda and the duration of the combined campaign is seven months.
Commenting on this significant milestone, Richard Price, Senior Vice President, North & South America, stated:
"We are delighted that our geophysical service offering and our environmental agenda have created the opportunity for delivering these projects for key clients in Brazil. The seven-month Brazilian campaign is an important element of our global strategy to maximize utilization of the Polarcus fleet through extending regional campaigns and minimizing vessel transits".
Hans-Peter Burlid, CFO
+971 50 559 8175
Richard Price, SVP North and South America
+1 832 715 1772
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)