EMGS’ Vessel Utilization Increases
Norwegian geophysical services company, EMGS, has seen increased vessel utilization in the fourth quarter of 2016, compared to the corresponding period in 2015.
Vessel utilization for the fourth quarter 2016 came in at 89% compared with 21% for the fourth quarter in 2015. For the full year 2016, the vessel utilization was 70%, whereas the utilization for the full year 2015 year was 59%.
In the Q4 2016, EMGS’ vessels were allocated 35% to contract work and 54% to multi-client projects. In the comparable quarter of 2015, the vessels were allocated 21% to contract work and no time was spent on multi-client projects.
The Atlantic Guardian vessel acquired data on two multi-client surveys in the Barents Sea from the beginning of the fourth quarter to the beginning of November. Following the completion, the vessel started a pre-funded multi-client survey, which is, weather permitting, expected to be completed late January.
The vessel’s utilization for the fourth quarter was 90%.
The BOA Thalassa was laid up at a reduced rate until November 01, 2016. The vessel started a contract in Malaysia on November 08, 2016. The contract work was completed on January 01, 2017.
The vessel’s utilization for the fourth quarter was 87%.