Electromagnetic Geoservices ASA has been awarded a shallow water survey in Malaysia worth more than USD 2.5 million by a major oil company. These contract revenues will be recognised in the fourth quarter of 2010.
The 3D EM survey is currently underway using the vessel BOA Galatea.
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.
Source:EMGS , October 15, 2010;