EMGS secures pre-funding from Statoil for Barents Sea campaign
(Thomson Reuters ONE) -
Electromagnetic Geoservices ASA (EMGS) is pleased to announce that it has
secured pre-funding from Statoil to start an extensive multi-client 3D EM survey
in the Barents Sea, ahead of Norway's 21st exploration licensing round.
The program presently stands at more than 4000 km2, and could be expanded
subject to additional industry commitments. EMGS's multi-client data library in
the Barents Sea will upon completion of the upcoming campaign cover more than
14,000 km2 of 3D EM data.
Carl Hutchins, EMGS president multi-client group, stated: "This year's survey
builds on our successful 2008 campaign and will provide our clients with a
significant competitive advantage when it comes to evaluating the most
prospective areas. Our final deliverable product is 3D full azimuth anisotropic
inversion, another EMGS multi-client first. This important tool allows
geologists to position EM data at the proper depth for integration with their
seismic-derived prospects."
Data acquisition will start shortly using the purpose-built vessel BOA Thalassa.
Early delivery of 3D EM data will ensure that customers have ample time to apply
knowledge gained from the EM surveys as a part of their bid preparation for the
21st licensing round in Norway.
Contact
Roar Bekker, EMGS chief executive officer, +47 73 56 88 10
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
Carl Hutchins, EMGS president multi-client group +1 713 819 4883
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
more information.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1405089]
Unternehmensinformation / Kurzprofil:
Datum: 19.04.2010 - 11:18 Uhr
Sprache: Deutsch
News-ID 19258
Anzahl Zeichen: 0
contact information:
Town:
Trondheim
Kategorie:
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"EMGS secures pre-funding from Statoil for Barents Sea campaign"
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