EMGS Bags 3D EM Contract in Asia

Electromagnetic Geoservices ASA (EMGS) has received a Letter of Award for a contract worth approximately USD 20 million from a major international oil company to acquire 3D electromagnetic (EM) data offshore Brunei.

Data acquisition will be performed from the vessel EM Leader with start-up in the fourth quarter of 2012.

“Today’s contract award, along with the recently announced USD 7 million contract for the EM Leader, represents a breakthrough for us in Asia,” says Roar Bekker.

“This is the largest 3D EM survey ever in this region, and we are delighted that this repeat customer is using EM strategically to optimize a portfolio of drilling prospects over a large area.”

Press Release, August 16, 2012

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