TGS signed a conditional Letter of Intent with Polarcus Limited to utilize their first released vessel, the 12 streamer Polarcus Nadia. The charter will begin in December, 2009 and last for approximately 3 months with options for TGS to extend the charter in two 6 month increments under fixed commercial terms.
"We are excited, looking forward to work with this new, promising vessel provider when expanding our Multi-Client data library further," Robert Hobbs, TGS Chief Executive Officer, commented.
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