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EMGS (OSL:EMGS) Electromagnetic Geoservices ASA (EMGS) has been awarded a contract worth more than USD 5 million by a repeat customer in Malaysia. The work has commenced and EMGS is using new technology in water depths of approximately 60 meters.
Terje Eidesmo, EMGS president and chief executive officer, said: "We have recently developed new technology that significantly broadens our market and operating window, enabling EMGS to perform surveys at virtually any water depth. Important hydrocarbon exploration opportunities remain in many shallow-water basins across the world, and we expect growing demand for our innovative technology in the future."
EMGS is assisting this client in the ranking of potential hydrocarbon reserves, as well as estimating volumes in several prospects.
About EMGS EMGS is the market leader in 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 help oil companies in their search for hydrocarbons. EMGS provides a full suite of services, including data planning, acquisition, imaging and interpretation. The company's integration systems enable seamless integration of EM data with seismic and other geophysical and geological information, giving explorationists a clearer and more complete understanding of the subsurface. This proprietary and patented technology has been developed over the past 10 years bringing dramatic improvement to exploration decision-making in frontier and mature provinces.
EMGS employs approximately 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 350 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
