Norwegian seismic survey company EMGS has received a letter of intent for a data licensing agreement from an undisclosed customer on behalf of a joint venture block consortium, offshore Namibia.
EMGS said last Friday that the minimum value of the deal was $3.6 million. Under the terms of the pending data licensing agreement, a final survey option type and license fee is expected to be determined by the customer by the end of the first quarter of 2020.
The customer will pre-fund a new multi-client CSEM data acquisition in the Walvis Basin using EMGS’s DeepBlue technology, a deep-towed source developed under a joint industry project involving Shell and Equinor.
EMGS will also provide data processing, inversion with 3D Gauss-Newton, and integrated interpretation services.
Subject to final contract exchange and regulatory permits, including an environmental clearance certificate, survey acquisition is expected to begin between May 1 and August 1, 2020, using the Atlantic Guardian vessel.
Bjørn Petter Lindhom, CEO of EMGS, said: “We’re delighted to receive this letter of intent for a multi-client campaign in the Walvis Basin. Securing this additional commitment in Namibia also enables EMGS to convert an existing acquisition contract in Block 2113A, announced by EMGS in August 2019 with Nabirm Global, from a vessel of opportunity with backstop, to a firm survey commitment in 2020.
“We continue to engage with customers with a view to further expand the planned data coverage to provide a first-class CSEM dataset extending between the Walvis & Orange Basins, where several high impact, deep-water exploration wells are planned in 2020.”
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