Electromagnetic Geoservices ASA is pleased to announce that it has been awarded a contract extension worth a minimum of USD 3 million in Asia.
This contract is a continuation of the previously announced global 3D EM campaign for a major oil company, the first part of which was a survey performed in the Caribbean in the first quarter of 2010. This campaign totals approximately USD 15 million to date, including the contract extension which will start shortly using the vessel BOA Galatea. It is expected that this 3D EM survey will be completed in mid-October.
About EMGS
EMGS uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. The company is the EM market leader, and provides Clearplay, the world’s first fully integrated EM system.
Three service offerings – Clearplay Find, Test and Evaluate – have been designed to assist operators in the exploration and production phase. Clearplay supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The services enable integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency, and reduces risks and the finding costs per barrel.
MGS operates the world’s first purpose-built 3D EM vessel fleet and has conducted more than 450 surveys to improve drilling success rates across the world’s mature and frontier offshore basins. The company operates on a worldwide basis with main offices in Trondheim and Stavanger, Norway; Houston, USA; and Kuala Lumpur, Malaysia.
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Source: Bowleven,September 15, 2010,