Norwegian geophysical services company Electromagnetic Geoservices (EMGS) has received letters of intent for two contracts for prefunded multi-client acquisitions offshore Indonesia.
EMGS said on Thursday that the two contracts represented a combined minimum gross contract value of $2.8 million. The company did not reveal any other details about the survey.
Subject to final and binding contracts for the work, EMGS expects to start the surveys in December 2017.
This is a second similar announcement by the company in the last month. In mid-October , the company’s subsidiary, Electromagnetic Geoservices Canada, began preparations for carrying out a pre-funded multi-client survey west of Newfoundland, Canada.
EMGS said at the time that the survey would represent a minimum level of revenues to EMGS of approximately $2.5 million.
Offshore Energy Today Staff