Polarcus signs shipbuilding contracts for vessels 5 & 6

Polarcus signed shipbuilding contracts on 15 June 2008 with Drydocks World – Dubai LLC for the construction of two 12-streamer 3D seismic vessels. The latest contracts are for Polarcus vessels 5 & 6 and are of the new vessel type SX134 designed by Ulstein Design AS. All six Polarcus vessels also incorporate the innovative ULSTEIN X-BOW® hull design and will enable the company to operate worldwide providing high-end 3D and 4D towed marine seismic services to the oil and gas industry.


Commenting on the signing, Polarcus Executive Vice President Peter Zickerman said, "With this signing we now have firm orders in place for six ultra-modern seismic vessels that incorporate the latest in maritime and technological innovation. This essential foundation will enable us to respond effectively to both the current and future needs of our prospective clients.


"All six vessels are being built in Dubai in the United Arab Emirates and will commence seismic operations between September 2009 and July 2010.


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 an ultra-modern fleet of initially 6 advanced seismic vessels designed by Norway's Ulstein Design AS incorporating the innovative ULSTEIN X-BOW® hull. The vessels are being built in Dubai, UAE, by Drydocks World -Dubai LLC, with the first vessels becoming operational in 2009.