Polarcus vessel utilization for Q1 2018

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announces the Company’s first quarter 2018 vessel utilization as follows:

Utilization Q1 – 2018 Q1 – 2017 FY – 2017
Utilization 83% 72% 77%
By category:      
Contract Seismic 65% 58% 71%
Multi-Client 18% 14% 6%
Transit 11% 18% 13%
Yard 0% 2% 2%
Standby 6% 8% 8%

Polarcus Nadia is excluded from vessel utilization subsequent to cold-stacking on 01 April 2015

The Company will be releasing its first quarter 2018 report on 11 May 2018 at approximately 07:00hrs CET (09:00hrs UAE). A webcast and conference call will be hosted by Polarcus commencing at 09:00hrs CET (11:00hrs UAE).


Hans-Peter Burlid, CFO
+971 50 559 8175


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 approximately 350 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 pursuant to section 5-12 of the Norwegian Securities Trading Act.