Polarcus secures 4D project in the Far East
18 Dec 2020
Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) is pleased to announce a memorandum of agreement has been entered into with SCF GEO, a company in the Sovcomflot group to provide 4D marine seismic acquisition services in the Far East for a major E&P company.
The program requires one Polarcus ICE-1A class vessel and will commence in Q2 2021, running for approximately 3 months.
Contractual arrangements and associated third party approvals are expected to be finalized before end January 2021.
Hans-Peter Burlid, CFO
+971 50 559 8175
Lars Oestergaard, COO
+971 54 791 0564
Polarcus (OSE: PLCS) is a focused geophysical service provider of safe and environmentally responsible marine acquisition services globally. Our geophysical offering is driven by innovation and collaboration to provide clients with better seismic data faster. Polarcus operates a fleet of high performance seismic vessels with 3D and 4D imaging capabilities, which incorporate leading-edge technologies for improved environmental performance and operational efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced priority processing solutions including Cirrus, a suite of cloud-based applications and services designed to bring clients closer to acquired seismic data, enabling faster and better informed exploration decisions. The Company services its clients globally from its head office in Dubai and regional offices located in Houston, London, Singapore and delivers Group asset management services from Oslo. For more information, visit www.polarcus.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.