UAE: Polarcus Receives Letter of Intent from OMV

Polarcus Limited announced today that it has received a Letter of Intent from OMV (NORGE) AS for a 3D seismic acquisition project in the Norwegian sector of the Barents Sea.

The project will be acquired by POLARCUS NAILA, the Company’s second 12 streamer 3D seismic vessel. The project will commence in early August 2010 and is expected to run for approximately 25 days.

About Polarcus

Polarcus is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus is launching a fleet of modern 3D seismic vessels using the innovative ULSTEIN X-BOW® design and incorporating advanced maritime technologies for improved operational efficiency with a reduced environmental footprint. Polarcus offers contract seismic surveys and multi client projects worldwide and has its principal office in Dubai, United Arab Emirates.

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Source: Eni, June 23, 2010: