Polarcus signs Memorandum of Understanding with ARGAS

Polarcus is pleased to announce that a Memorandum of Understanding has been signed with Arabian Geophysical and Surveying Company (“ARGAS”) to collaborate on hybrid seismic projects utilizing the differentiating technologies and capabilities of Polarcus in the MENA region.

Polarcus provides global, industry-leading marine seismic acquisition capabilities and premium cloud-based Priority Processing™ services. ARGAS provides regional expertise in land, transition zone and shallow water seismic data acquisition and associated data processing. Together, Polarcus and ARGAS will work to identify opportunities and execute projects in the MENA region.

“We are very pleased to collaborate with ARGAS in the MENA region. Leveraging the core strengths and capabilities of both parties will deliver enhanced imaging and a reduced exploration cycle to E&P companies in the region” stated Duncan Eley, Polarcus, CEO.

Contacts

Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com

Lars Oestergaard, COO
+971 54 791 0564
lars.oestergaard@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 seismic vessels with 3D and 4D imaging capabilities, which incorporate leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions. The Company services its clients globally from its head office in Dubai and regional offices located in Houston, London and Singapore. For more information, visit www.polarcus.com