Polarcus Limited, a marine geophysical company which specializes in high-end towed streamer data acquisition, announces the release of its first quarter 2013 financial statements. Highlights in the first quarter 2013: – Revenues of USD 144.8 million, up 45% from Q1 2012 – EBITDA of USD 52.9 million, up 103% from Q1 2012 – EBIT of [...]
Polarcus Limited (“Polarcus” or the “Company”) announces the appointment of Mr. Duncan Eley as Chief Operating Officer (“COO”) of the Company. Effective May 01, 2013, Mr. Eley will assume the position of COO and head the Company’s three business lines; Sales and Marketing, Multi-Client and Marine Acquisition, together with the EHSQ and Information Technology support [...]
MPRL E&P Pte Ltd. (“MPRL E&P”), the only independent E&P company operating in both onshore and offshore Myanmar, announces the award of a full-fold 1,720 km2 survey in water depths from 1,600 to 2,000 m to Polarcus UK Ltd (“Polarcus”). Polarcus has allocated to this campaign the MV Adira, delivered in June 2012, the latest [...]
February 12, 2013 | Posted in
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Polarcus Limited (“Polarcus” or the “Company”) announces the release of its fourth quarter and preliminary full year 2012 financial statements. Highlights in the fourth quarter 2012: – Revenues of USD 140.4 million, up 34% from Q4 11 – EBITDA of USD 56.6 million, up 82% from Q4 11 – EBIT of USD 27.6 million, up [...]
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Polarcus announces that the Company has completed the sale and delivery of the 8-streamer 3D seismic vessel POLARCUS SAMUR to Turkish Petroleum Corporation (TPAO). The vessel is to be repainted red and white in the design of the new vessel owner and renamed Barbaros Hayreddin Pasa. Polarcus has simultaneously commenced the 3 year support services [...]
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. [...]
January 2, 2013 | Posted in
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Polarcus Limited announces that the Company has been invited to enter into final negotiations with the Turkish Petroleum Corporation (“TPAO”) over a long-term collaboration arrangement between the parties, which will include the sale and reflagging of the 8-streamer 3D seismic vessel Polarcus Samur combined with the provision by Polarcus of seismic data acquisition, management and [...]
December 10, 2012 | Posted in
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Shipowner Polarcus has received the world’s first-ever DNV Level 1 Triple-E™ rating, a voluntary environmental rating scheme for ships, where 1 is the highest. All eight vessels in the Polarcus fleet are designed by ULSTEIN. The rating is based on a verification of a ship’s actual energy efficiency and environmental performance, carried out by an [...]
December 4, 2012 | Posted in
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Damen Shiprepair Den Helder (The Netherlands) was rewarded a contract for modification activities on the ‘Polarcus Adira’ operated by Dubai-based Polarcus, a company owning one of the biggest fleets of Seismic Vessels. Polarcus is operating an ultra-modern seismic fleet incorporating advanced maritime and environmental features and capable of operating in the most challenging of conditions. [...]
November 30, 2012 | Posted in
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Polarcus Limited announced the release of its third quarter 2012 financial statements. The third quarter 2012 was the first time Polarcus operated its full fleet complement of eight vessels subsequent to the delivery of Polarcus Adira in June, enabling the Company to recognize a net profit of USD 21 million for the quarter. The third [...]
