EMGS receives Letter of Intent for large 3D EM survey in Asia
Reference is made to the updated vessel schedule published on 7 January 2013,
where EMGS (Electromagnetic Geoservices ASA) stated that the company is in
advanced stages of negotiations regarding contracts totalling approximately six
months of work in Asia.
EMGS has today received a Letter of Intent for a contract totalling
approximately 6 months of 3D EM data acquisition in Asia. Final confirmation and
award of the program is dependent on the customer's internal Tender Board
approval.
It is expected that the 3D EM survey program will be performed using the vessel
BOA Thalassa with start-up in the first quarter of 2013.
"We expect to deploy both the EM Leader and BOA Thalassa in Asia for most of
2013 based on our substantially improved backlog as well as additional demand
from both new and existing customers," said Roar Bekker, CEO of EMGS.
Contact
Roar Bekker, EMGS chief executive officer, +47 22 01 14 00
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
Chris Guldberg, EMGS Head of PR/IR, +47 73 56 88 10 / +47 92 81 07 07
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 650 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, Stavanger and Oslo, 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
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originality of the information contained therein.
Source: EMGS via Thomson Reuters ONE
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