Polarcus Sells Seismic Vessel to TPAO (Turkey)

January 2, 2013

Polarcus has completed negotiations and agreed final agreements with Turkish TPAO for the sale and reflagging of the 8-streamer 3D seismic vessel Polarcus Samur combined with the provision by Polarcus of seismic data acquisition, fast-track data processing, management and crewing services for the vessel over a 3 year period.

The total value of the collaboration arrangement over the 3 year period, including the sale of the vessel, is approximately USD 213 million.

TPAO will take delivery of Polarcus Samur in late January / early February.

[mappress]
January 2, 2013