Polarcus signs multi-client cooperation agreement with Searcher Seismic

by polarcus on 07-Dec-10 13:45

Polarcus Limited (OAX: PLCS) is pleased to announce the signing today of a multi-client cooperation agreement with Searcher Seismic Pty. Ltd., to jointly develop and license marine 3D multi-client acquisition projects across Australia and Indonesia. The exclusive agreement is intended to see the development of highly funded multi-client projects to complement potential future contract operations in the strategic Asia-Pacific market.


Searcher Seismic is the largest and best known independent multi-client company in Australia with a reputation for delivering the highest quality multi-client projects. Searcher has a proven track record in bringing to market industry-leading 2D and 3D multi-client projects in Southeast Asia and Australia.


Under the terms of the agreement, Polarcus and Searcher will cooperate exclusively in the identification, planning, and execution of 3D multi-client projects over the offshore continental shelves of Australia and Indonesia. The companies will offer these high quality projects for data licencing substantially by leveraging Searcher's extensive client network within the region.


Contacts


Rolf Ronningen, CEO Polarcus, +971 4 436 0800 / +971 50 459 6982
Christian Fenwick, SVP Bus. Dev. & Multi Client Polarcus, +971 4 436 0800 / +971 50 458 6507


About Polarcus


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