EMGS to mobilise third crew
(Thomson Reuters ONE) -
Electromagnetic Geoservices ASA (EMGS) has entered into an agreement with North
Sea Shipping to charter the vessel Atlantic Guardian for six months from 25
April 2011, with optional extensions of up to six months. EMGS will equip the
Atlantic Guardian with its custom-designed acquisition set, which will give the
vessel the ability to acquire the same high-quality 3D EM data as is obtained
using the company's two purpose-built 3D EM vessels.
EMGS has secured nearly 5 months backlog, at an estimated value of USD 20
million, for its third vessel. The company is currently pursuing further
opportunities, which it is confident will result in full contract coverage for
the firm charter period. The Atlantic Guardian will start its campaign in the
North Sea in early May before heading to the Americas to perform additional
projects.
Roar Bekker, EMGS chief executive officer, commented:
"It is exciting to see that recent technology innovations have expanded the
application of 3D EM beyond traditional de-risking of drilling decisions and
into areas like frontier scanning, shallow water applications, delineation and
appraisal, as well as imaging of high resistive geological layers such as salt
and basalt. We see these trends as a strong indication of increased industry
adoption of our EM technology worldwide.
"The decision to mobilise a third crew is made in response to these developments
and to the growing demand we are witnessing for our services. We look forward to
building on the momentum we have gained and to further develop the Marine EM
market."
Contacts
Roar Bekker, EMGS chief executive officer, +47 22 01 14 00
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
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#1502903]
Unternehmensinformation / Kurzprofil:
Datum: 04.04.2011 - 08:45 Uhr
Sprache: Deutsch
News-ID 53106
Anzahl Zeichen: 3578
contact information:
Town:
Trondheim
Kategorie:
Business News
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