Electromagnetic Geoservices ASA (EMGS) is pleased to announce that the Company has signed a letter of award with a repeat customer in India worth approximately USD 15.3 million.
The survey, which is located off the eastern coast of India, is expected to start in early January 2016 by the vessel BOA Thalassa. The acquisition phase is estimated to have a duration of approximately 2 months.
The gross contract value includes approximately 14% service tax.
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