EMGS Records Increase in Vessel Activity in Q4

Photo: EMGS

Electromagnetic Geoservices (EMGS) has seen an increase in the vessel utilization for the fourth quarter 2018 to 32% compared with 13% for the fourth quarter in 2017.

For the full year 2018, the vessel utilization dropped to 33%, whereas the utilization for the full year 2017 was 56%.

In the fourth quarter of 2018, EMGS’ vessels were allocated 32% to proprietary work and no time was spent on multi-client projects. In the comparable quarter of 2017, the vessels were allocated 13% to multi-client projects and no time was spent on proprietary work.

EMGS had two vessels in operation and recorded 5.7 vessel months in the quarter. In the fourth quarter 2017, the company recorded 6.0 vessel months.

The Atlantic Guardian began the fourth quarter acquiring data on a small research survey west of Svalbard. On October 21, the vessel started mobilizing to South America and was prepared for the USD 8 million contract, which the vessel started operation on from November 20, 2018. This survey is expected to be completed in Q1 2019.

The vessel’s utilization for the fourth quarter was 49%.

The BOA Thalassa has had a yard stay and been idle this quarter.

EMGS expects to record approximately USD 6 million in multi-client revenues for the fourth quarter 2018.

Share this article

Follow Subsea World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

M&CCE Expo Marine & Coastal Civil Engineering 2020

This conferences, events, demos, and competitions provide a productive background buzz throughout M&CCE…

read more >

Underwater Intervention (UI) 2020

Underwater Intervention Conference is a conference where oil and gas industry professionals, senior decision…

read more >

Subsea Expo 2020

Subsea Expo is the world’s largest subsea exhibition and conference and is completely free to attend.

read more >

Oceanology International 2020

Exhibitors from industry, government and research institutions share their knowledge and come…

read more >