EMGS Receives Industry Funding for BOA Thalassa in Norway

Electromagnetic Geoservices ASA’s (EMGS) has received industry funding for about 4 months of work in Norway.

“We experience increased interest from both new and existing customers following our strong track record in the Barents Sea, as well as the results from the nominations for the 23rd licensing round,” said Roar Bekker, CEO of EMGS.

According to the vessel schedule presented at the Company’s fourth quarter presentation, EMGS will move the vessel BOA Thalassa to Norway, for a combination of contract work and a multi-client 3D EM survey in the Barents Sea. Subject to completion of contract finalization of the Letter of Intent in North-West Africa, announced on 14 February, the vessel will acquire 3D EM data in the North-West Africa on its route to Norway.

EMGS will continue to invest in expanding its multi-client library in the Barents Sea, with special focus on the Barents Sea East and blocks in the vicinity of the Hoop Fault Complex.

Press Release, February 17, 2014; Image: Wikimedia