Electromagnetic Geoservices ASA (EMGS) is pleased to announce that the Company has signed a multi-client acquisition agreement with the Directorate General of Hydrocarbons (DGH) in India. The agreement grants EMGS a two year permit to acquire 3D EM multi-client data within a 325,000 square km area off West coast India, crossing eight different tectonic provinces from Kutch-Saurashtra in North to Ratnagiri in South.
The agreement also gives the DGH access to EMGS' 3D EM multi-client data acquired going forward within the permitted area.
"We are encouraged by the Directorate's interest in how the use of our technology can improve the understanding of the sub-surface and reduce drilling risk in the defined areas. Some of the proposed areas are very challenging to explore due to the presence of basalt from lava flows that created the DeccanTraps. We believe our EM technology can play an important role in the improvement of sub-basalt imaging in these areas," says Stig Eide Sivertsen, CEO of EMGS.
In conjunction with oil companies in India, EMGS has identified 8 potential survey areas to evaluate different geologic scenarios within the permit area. The survey locations has been carefully chosen based on reviews of well and seismic data that the Company has had access to, as well as evaluations of feasibility and sensitivity for MMT and CSEM.
Contact
Svein Knudsen, EMGS chief financial officer, +47 911 41 149
Charlotte Knudsen, EMGS head of investor relations, +47 9756 1959
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