Trondheim, 22 April 2008
Electromagnetic Geoservices ASA (EMGS) has been awarded a contract by StatoilHydro to determine the hydrocarbon potential of exploration prospects in the Barents Sea using seabed-logging technology.
The contract is worth approximately USD 5 million and starts at the end of April.
Terje Eidesmo, EMGS president and chief executive officer, said: "This contract kicks off what appears to be a promising summer season, and I am happy we have got off to such a good start with an important repeat customer like StatoilHydro."
Contacts
Terje Eidesmo, EMGS chief executive officer +47 73 56 88 10
Svein Knudsen, EMGS chief financial officer +47 73 56 88 10
About EMGS
EMGS is the market leader in deep electromagnetic (EM) imaging. The company launched the EM imaging industry in 2002 with the commercialisation of seabed logging, a proven exploration method that uses EM energy to find offshore hydrocarbons without drilling wells. This proprietary and patented technology has been developed over the past 10 years, and its ability to indicate hydrocarbons directly is enabling EMGS' customers to dramatically improve their exploration performance in frontier and mature provinces.
EMGS employs over 300 people from three main offices in Trondheim, Norway; Houston, USA; and Kuala Lumpur, Malaysia. The company operates the world's largest EM vessel fleet, and has conducted more than 300 surveys for many of the world's leading energy companies.
Please visit www.emgs.com for the latest news and in-depth information about EMGS and EM imaging technology.
For general enquiries please email findinghydrocarbons@emgs.com