Polarcus receives LOI for highly pre-funded multi-client project in the Middle East

By Curious

Polarcus Limited (Polarcus) (OSE: PLCS) announced earlier today that the Company has received a Letter of Intent (LOI) from an undisclosed client to pre-fund a multi-client XArray 3D seismic acquisition project in the Middle East.

Polarcus receives LOI for highly pre-funded multi-client project in the Middle East

The project will commence in Q4 and run for approximately two months.'

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. The Company offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs over 400 professionals worldwide. Polarcus principal office is in Dubai, United Arab Emirates.

Source: Polarcus