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Project in West Africa terminated

Written by Customer Service on . Posted in Public Companies.

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) refers to its announcement dated 1 November 2018 regarding the award of a 3D marine seismic acquisition project offshore West Africa. The client has decided to cease operations on the project and the contract has been terminated. The client has accepted that compensation for early termination is payable in these circumstances. Polarcus is engaged in discussions for alternative project opportunities although the Company expects its vessel utilization in Q2, 2020 to be negatively impacted. ContactsHans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com About PolarcusThis information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

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