businesspress24.com - EMGS awarded survey worth USD 5 million offshore West Africa
 

EMGS awarded survey worth USD 5 million offshore West Africa

ID: 1010958

(Thomson Reuters ONE) -


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.

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

About EMGS
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)


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