Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to announce the three-year extension of the Bareboat Charter Party Agreement ("BBCP") for M/V Vyacheslav Tikhonov (the "Vessel") between Polarcus Selma Limited ("Polarcus Selma"), Polarcus' wholly owned subsidiary, and SCF Sakhalin Supply Limited ("SCF").
Reference is made to the stock exchange notice published by Polarcus on 11 August 2011 where Polarcus announced a strategic agreement with SCF Group.
This extension was carried out pursuant to SCF's option within the terms of the current BBCP (in force since 2011). The vessel charter shall continue for a further period of three years starting from 18 August 2016.
Tom Henrik Sundby, CFO
+971 50 708 6480
Hans-Peter Burlid, VP Finance & Investor Relations
+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)