EMGS Scores 3D Survey Contract from North Energy

Electromagnetic Geoservices ASA (EMGS) has received a Letter of Award (LOA) from North Energy ASA for a contract of $3.3 million for 3D EM data acquisition over and in the vicinity of license PL509S in the North Sea.

“This contract means that EM is becoming accepted as an exploration tool in the North Sea and re-iterates that the application of the EM technology will be an integral part of North Energy’s exploration workflow,” says CEO of EMGS, Roar Bekker.

“We believe that the use of electromagnetic data, together with other advanced geophysical technologies, will considerably de-risk our exploration portfolio in the North Sea,” says SVP of exploration and business development of North Energy, Kristen Berli.

The survey is expected to commence mid-April, using the vessel Atlantic Guardian.

EMGS 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 the 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.

Press Release, April 07, 2014

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