EMGS wins USD 12.5 million Red Sea contract
(Thomson Reuters ONE) -
Electromagnetic Geoservices ASA (EMGS) is pleased to announce that it has today
signed a contract worth approximately USD 12.5 million with an oil company in
the Kingdom of Saudi Arabia. The vessel BOA Galatea will acquire both 3D
electromagnetic (EM) and magnetotelluric (MT) data in the Red Sea over a three-
month period. Mobilization is expected in the early part of the second quarter,
following completion of the previously announced contract offshore Mozambique.
Roar Bekker, EMGS chief executive officer, commented: "We are delighted to have
secured this contract which, along with the work offshore Mozambique, provides
backlog for the BOA Galatea through to the end of July 2011.
"The Red Sea project is, to our knowledge, the largest combined 3D EM and MT
survey ever undertaken. We see this as an endorsement of our technical and
operational capabilities, providing further evidence that EM is becoming an
established exploration tool."
About MT
Whereas 3D EM, which is also known as controlled source EM (CSEM), uses a high-
power EM source to create a subsurface signal, the magnetotelluric (MT) method
uses a natural signal generated from the interaction between the solar wind and
the Earth's magnetic field. MT and EM surveys can be performed using the same
receiver deployment, with MT measurements recorded when the controlled source is
inactive. The MT method is particularly useful in complex salt and basalt areas
such as the Red Sea.
Contacts
Roar Bekker, EMGS chief executive officer, +47 73 56 88 10
Svein Knudsen, EMGS chief financial officer, +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 500 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 pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: EMGS via Thomson Reuters ONE
[HUG#1484154]
Unternehmensinformation / Kurzprofil:
Datum: 01.02.2011 - 11:02 Uhr
Sprache: Deutsch
News-ID 50928
Anzahl Zeichen: 3450
contact information:
Town:
Trondheim
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 203 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"EMGS wins USD 12.5 million Red Sea contract"
steht unter der journalistisch-redaktionellen Verantwortung von
EMGS (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
