Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) is pleased to announce that the Company has received two Letters of Intent from two undisclosed clients for two additional marine seismic projects offshore South America. The projects, one 3D using Polarcus' RightBAND(TM) technique for broadband data acquisition and one 4D monitoring survey, will commence in Q1 and Q2 2017 respectively. The projects are expected to have a combined duration of five vessel months.
"We are pleased to see continued success in building backlog in the South American region with two of our low environmental impact vessels," commented Richard Price, Senior Vice President, North & South America. "Since the vessels entered the region in early 2016, multiple awards such as these have enabled long-term efficient regional campaigns. We are pleased to be able to continue setting the performance standards for our industry clients in the region through the first half of 2017."
Contacts
Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com
Richard Price, SVP North & South America
+1 832 715 1772
richard.price@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)