Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to announce a two-year extension of the support services agreement with Turkish Petroleum covering seismic data acquisition management, maritime management and crewing support.
Reference is made to the stock exchange notice published by Polarcus on 02 January 2013 regarding long term collaboration agreements with Turkish Petroleum.
Through this extension, Polarcus will continue to provide Turkish Petroleum the support services required to deliver safe, efficient and high quality marine seismic operations onboard Turkish Petroleum's state of the art seismic vessel, Barbaros Hayreddin Pasa.
Turkish Petroleum CEO and President Besim Sisman commenting on the extension of the long term collaboration with Polarcus stated:
"Turkish Petroleum values the expertise and commitment of Polarcus which delivers excellence in marine seismic operations. We have worked together in harmony for 3 years and done an excellent job. Polarcus is a leading partner that drives forward our business with advanced technology. I believe that the extension of the agreement will again ensure that the strong alliance between Turkish Petroleum and Polarcus continues for a long time."
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
About Turkish Petroleum
With 61 years of experience, Turkish Petroleum continues business activities- exploration, drilling, production and marketing- in 6 different countries around the world. TP gets also involved in unconventional exploration, natural gas storage, deep water exploration and pipeline transportation. Internationally, TP has been operating in Turkey, Azerbaijan, Iraq, Afghanistan, Libya and the Russian Federation. TP has been continuing to develop business portfolio in hydrocarbon-rich regions such as Caspian Region, Russian Federation, Middle East, Africa and Latin America. Sticking to the business philosophy "respect for human, society and environment", TP expands its activities to Latin America, Middle East, Africa and Caspian Region with the aim of becoming a pioneer in the region and a paragon in the globe. TP has taken a leading role in the foundation and development of national petroleum and natural gas sector in Turkey. Turkish Petroleum has recently been named as the most internationally investing company of Turkey.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)