Turkey: Polarcus Sells 3D Vessel Polarcus Samur to TPAO

Polarcus has successfully completed the aforementioned negotiations with the Turkish Petroleum Corporation (“TPAO”) and agreed final agreements 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]
Press Release , January 02, 2013