Polarcus Limited (OAX: PLCS) announced today that after a successful mobilization the seismic vessel Polarcus Nadia has now entered into production on its first project, offshore Liberia. The contract is the previously announced Seismic Charter Agreement that Polarcus entered into with TGS on 10 December 2009. The survey is being acquired with a 10 streamer seismic array, each streamer being 7,200 meters long and with 100 meters separation between streamers.
Rolf Ronningen, CEO Polarcus, +971 4 436 0800 / +971 50 459 6982
Tom Henrik Sundby, CFO Polarcus, +971 4 436 0800 / +971 50 708 6480
Polarcus is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from pole to pole. Polarcus is launching a fleet of modern 3D seismic vessels using the innovative ULSTEIN X-BOW® design and incorporating advanced maritime technologies for improved operational efficiency with a reduced environmental footprint. Polarcus offers contract seismic surveys and multi client projects worldwide and has its principal office in Dubai, United Arab Emirates. For more information, visit www.polarcus.com