Polarcus secures six month backlog extension

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) is pleased to announce that the Company has received multiple awards which together extend the fleet backlog by six vessel months. The projects will be carried out by multiple Polarcus vessels and commence in Q1 and Q2 2016.

Commenting on this latest awards, Duncan Eley, COO Polarcus, said: “Two of the awards are extensions of current projects. Such extensions reflect the excellent performance of our vessels and are beneficial to Polarcus as the fleet utilization can be optimized by increasing backlog without additional transit, which is a very positive factor in the current challenging market.”

 

Contacts

Tom Henrik Sundby, CFO
+971 50 708 6480
tom.sundby@polarcus.com

Hans-Peter Burlid, VP Finance & Investor Relations
+971 50 559 8175
hp.burlid@polarcus.com

 

About Polarcus

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)