EMGS Secures Major 3D EM Contract

Electromagnetic Geoservices ASA (EMGS) announces that it has been awarded a contract worth approximately USD 100 million by one of the world’s largest oil companies.

It is expected that 3D electromagnetic (EM) data acquisition will start in early September 2013, following mobilisation of the vessel BOA Galatea in the second half of August.

“We are delighted to have won this contract which provides us with a substantially improved order book,” said Roar Bekker, CEO of EMGS. “Today’s contract award, which is the third largest within marine EM, is an endorsement of our operational and technological capabilities. More importantly, it confirms the value of integrating 3D EM data in the exploration workflow. We look forward to further developing our relationship with this repeat customer.”

The customer has indicated that the contract will be formally finalised and signed within approximately three weeks.

Press Release, June 27, 2013; Image: EMGS