Dolphin Geophysical AS, a 100% owned subsidiary of Dolphin Group ASA, has signed a Letter of Intent with TGS-NOPEC Geophysical Company ASA for the charter of the high-capacity 3D seismic vessel Polar Duke. The charter will begin in May 2011 and will last for a minimum of 3 months. The agreement also provides an option for TGS to extend the charter in two increments of 2 and 6 months respectively, under agreed commercial terms.
"This first 3D project is an important event in moving the company into an operational mode" commented Atle Jacobsen, CEO. "We are confident in our operational readiness and look forward to being able to showcase our ability to deliver results to both TGS and prospective customers."