EMGS: ‘Boa Thalassa’ Contract in Asia Extended

Norwegian electro magnetic survey specialist EMGS has today confirmed it has received a contract extension in Asia for its vessel ‘Boa Thalassa’.

The value of the contract extension is at least USD 15 million, which brings the total contract value to a minimum of USD 50 million. It is expected that the vessel BOA Thalassa will complete the entire work programme, including the contract extension, in October 2013.

The letter of intent for this contract was issued on June 11, 2013, and on that occasion Roar Bekker, CEO of EMGS, said: “This contract extension is an endorsement of our services and shallow water capabilities. Furthermore, it confirms the value that 3D EM delivers to regional exploration. This is a new application of EM which we believe has considerable market potential going forward.”