EMGS Signs Contract Extension with PEMEX for 3D EM Acquisition in Mexico

EMGS announces that it has signed a contract extension worth approximately USD 39 million with PEMEX, one of the world’s largest national oil companies.

“This contract extension is an endorsement of our technology and the value that EM delivers in hydrocarbon exploration. PEMEX and EMGS have worked closely over the course of the last two years, and we look forward to further developing this relationship and supporting PEMEX in its efforts to improve Mexico’s reserves replacement ratio,” says Roar Bekker, EMGS chief executive officer.

The BOA Thalassa will continuously acquire 3D EM data in the Mexican sector of the Gulf of Mexico throughout the contract extension period.

EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The company’s services enable integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency, and reduces risks and the finding costs per barrel.

EMGS has conducted more than 600 surveys to improve drilling success rates across the world’s mature and frontier offshore basins. The company operates on a worldwide basis with main offices in Trondheim, Stavanger and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia.

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Subsea World News Staff, June 11, 2012; Image: EMGS