OLSO, Norway – Dolphin Group ASA says it has exercised an option to charter the M/V Polar Duchess from Armada Seismic for a firm period of three years. The agreement also has two four-year extension options. The effective date is April 2012.
Dolphin is responsible for a seismic equipment investment of $55 million as well as the technical seismic design and outfitting. The work is scheduled for 1Q 2012.