EMGS awarded 3D EM survey in Papua New Guinea

04-May-2012 Intellasia | Reuters | 7:05 AM Print This Post

Electromagnetic Geoservices ASA (EMGS) has been awarded a contract worth in excess of USD 4 million by a new customer to acquire and process 3D electromagnetic (EM) data offshore Papua New Guinea. Data acquisition will be performed by the vessel EM Leader in the second quarter of 2012.

“We are excited by the interest we see from new and existing customers in the Asia Pacific region. The strong pipeline of contract opportunities for the second half of 2012 and 2013, along with the flexibility we have in the time charter agreement for the EM Leader, puts us in a good position to develop the Asia Pacific market profitably,” said Roar Bekker, EMGS chief executive officer.

Contacts

Roar Bekker, EMGS chief executive officer, +47 22 01 14 00

Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00

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 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.

http://www.reuters.com/article/2012/05/02/idUS62349+02-May-2012+HUG20120502

 


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