Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) has announced five project awards during Q4 2018 for the Polarcus fleet, in addition to a combined towed-streamer and node seismic acquisition project to be executed by the "Vyacheslav Tikhonov" in Q1 2019 due to lack of Polarcus vessel availability (see Company announcement dated 27 December 2018). These awards all provide additional data points indicating increased pricing for 2019.
Following these awards, the Polarcus fleet booked capacity is as follows for 2019:
- Q1-19: 90%
- Q2-19: 85%
- Q3-19: 55%
- Q4-19: 30%
The 2019 visibility has been driven by a 25% increase in tender activity in 2018 compared to 2017.
Contacts
Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com
Lars Oestergaard, COO
+971 54 791 0564
lars.oestergaard@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 approximately 350 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com