EMGS Gets New Pemex Call
- Business & Finance
Electromagnetic Geoservices (EMGS) has received a call-off for additional acquisition work for Pemex.
In June last year, EMGS signed a two-year acquisition contract with Pemex with a total value of approximately $73.3 million and a minimum value of approximately $29.3 million.
The call-off consists of deep-water acquisition work and has a total value of about $3.4 million, excluding associated processing.
Furthermore, the company said it has also received a call-off covering modelling work in preparation for other potential acquisition operations.
CEO of EMGS, Bjørn Petter Lindhom, said: “I am very proud of the outstanding operational efficiency and first-class product EMGS is delivering to Pemex under this contract. The additional acquisition work now ordered by Pemex is an important confirmation that we are meeting Pemex’s expectations.”
Based on modelling work already ordered and completed, on-going discussions with Pemex and the new modelling call-off received, EMGS said that it has reason to believe that additional acquisition work is likely to be forthcoming.