EMGS awarded survey worth USD 5 million offshore West Africa

Electromagnetic Geoservices ASA (EMGS) has today received a Letter of Award from an oil and gas company to provide 3D EM data acquisition services offshore West Africa.

 

The survey will be performed using the purpose-built 3D EM vessel BOA Galatea. This vessel is currently in transit to the survey area following completion of a previously announced contract in the Caribbean.

 

The work program in West Africa is worth approximately USD 5 million and is expected to commence in the beginning of April.

 

Roar Bekker, EMGS chief executive officer, +47 73 56 88 10
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00

 

EMGS uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. The company is the EM market leader, and provides Clearplay, the world's first fully integrated EM system.

 

Three service offerings - Clearplay Find, Test and Evaluate - have been designed to assist operators in the exploration and production phase. Clearplay supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The 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 operates the world's first purpose-built 3D EM vessel fleet and has conducted more than 450 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 and Stavanger, Norway; Houston, USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more information.

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)