Electromagnetic Geoservices ASA (EMGS) has signed a contract worth approximately USD 7 million with a major international oil company to provide 3D EM acquisition and processing services in the Asia Pacific region. Data acquisition will be performed from the vessel EM Leader and is expected to commence in early September.
Roar Bekker, EMGS chief executive officer, commented: "This is a significant contract win for us as it is our first major project for this customer, which is one of the world's leading integrated energy companies. We look forward to developing this customer relationship and delivering high-quality 3D EM data that will help de-risk hydrocarbon prospects in an exciting area."
Contact
Roar Bekker, EMGS chief executive officer, +47 73 56 88 10
Chris Guldberg, EMGS Head of PR/IR, +47 73 56 88 10
Roar Bekker, EMGS chief executive officer, +47 73 56 88 10
Chris Guldberg, EMGS Head of PR/IR, +47 73 56 88 10
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 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, 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. Please visit www.emgs.com for more information.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.