Electromagnetic Geoservices ASA (EMGS) has received a letter from PEMEX to return for 3D EM acquisition in Mexico. The vessel BOA Galatea is expected to re-start the work for PEMEX. The order is confirming a continuation of the existing contract for PEMEX, announced on 27 June 2013.
"We are delighted to start working for PEMEX again in this exciting region," said Bjarte Bruheim, CEO of EMGS.
The duration of the acquisition is not settled. Further information will be announced in due course.
Contacts
Svein Knudsen, EMGS chief financial officer, +47 911 41 149
Charlotte Knudsen, EMGS head of investor relations, +47 97 56 19 59
About EMGS
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 the 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 on a worldwide basis with main offices in Trondheim and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia.