Polarcus awarded 3D seismic acquisition project offshore Brazil
Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announced that the Company has signed a Letter of Intent (“LOI”) with an undisclosed client for a 3D marine seismic acquisition project offshore Brazil. The program, subject to the execution of contract, is projected to commence in Q2 2015 upon receipt of the required environmental permit, and is expected to run for approximately 30 days.
Following completion of the above project, the Polarcus vessel will mobilize for a multi-client 3D project offshore Brazil, for Queiroz Galvão Exploração e Produção (“QGEP”). This second project forms part of the Company’s existing backlog that has been previously announced through the Oslo Stock Exchange.