Polarcus signs agreement with TGS to extend 3D vessel charter, offshore Norway

Reference is made to the stock exchange notice published by Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) on 09 April 2015 regarding the announcement of a Letter of Award (“LOA”) from TGS-NOPEC Geophysical Company ASA (“TGS”) for a 3 month charter of the Company’s 3D seismic vessel, POLARCUS ADIRA, with an option for a further charter.

Polarcus is pleased to announce that the Company has received an LOA for the above referenced option, which will commence immediately following completion of the current charter for TGS. The second charter is expected to run for 2 months.

An update on the booked capacity for Polarcus’ 3D seismic fleet will be provided in the Polarcus Investor Presentation to be published today, 01 June 2015, in conjunction with the 77th EAGE Conference & Exhibition in Madrid.

 

Contacts

Rod Starr, CEO Polarcus
+971 4 436 0800
rod.starr@polarcus.com

Tom Henrik Sundby, CFO Polarcus
+971 50 708 6480
tom.sundby@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 over 600 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)