Press

Polarcus Secures XArray Contract in Gulf of Mexico


Polarcus Limited (the "Company") (OSE: PLCS) is pleased to announce that the Company has received a letter of award from TGS-NOPEC Geophysical Company ASA ("TGS") for acquiring 6,172 sq.km. of 3D seismic data in the Gulf of Mexico. The survey will commence in Q1 2018 for a period of three months. The survey will be acquired utilizing Polarcus' innovative XArray multiple source acquisition method to deliver efficient and high quality broadband data.

Following this award, all active Polarcus vessels will be on contract in Q1 2018. In combination with the additional six contract announcements made earlier in Q4, the Company has substantially improved visibility into 2018 with more than 70% of vessel capacity booked for H1 2018.



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