Electromagnetic Geoservices ASA (EMGS) is pleased to announce that the Company has signed a contract extension worth approximately USD 7 million with an oil company in Malaysia.
As announced on 7 August 2015, EMGS received a letter of award for a contract worth approximately USD 4.2 million for 3D EM data acquisition over the oil company's operated area in Malaysia. The acquisition was completed on 9 October 2015.
The vessel BOA Thalassa will commence the extension of the survey today, 21 October, and expected duration of the survey is approximately one and a half month. The survey is located off East Malaysia.
Contacts
Charlotte Knudsen, EMGS head of investor relations, +47 97 56 19 59
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 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.
EMGS operates on a worldwide basis with main offices in Trondheim and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia.
For more information, visit www.emgs.com