Polarcus secures extension of South American campa

Reference is made to the stock exchange release issued on 16 December 2015 in which Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announced an award for a 3D marine seismic project in South America (the "Project").

The company is pleased to announce an extension of the Project. The first phase was successfully completed in August 2016. The second phase is scheduled to commence in March 2017 and will be acquired over 3 months, extending the regional campaign into Q3 2017, with an option for further expansion of the survey area.

Commenting on the news, Richard Price, Senior Vice President, North & South America, said: "It is very gratifying to receive this project extension, as it validates our exemplary safety and environmental performance and our operational efficiency, which has enabled us to meet the high standards expected by this major client."

Contacts

Richard Price, SVP North and South America +1 832 715 1772 richard.price@polarcus.com

Hans-Peter Burlid, CFO +971 50 559 8175 hp.burlid@polarcus.com

About Polarcus

Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs nearly 500 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit  www.polarcus.com

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.