EMGS hires vessel to address backlog

Offshore staff

TRONDHEIM, Norway -- Electromagnetic Geoservices (EMGS) has agreed to charter North Sea Shipping’s vessel Atlantic Guardian for six months from April 25, with optional extensions of up to six months.

EMGS will equip the vessel with a custom-designed acquisition set, allowing it to acquire the same quality 3D EM data achieved by the company's two purpose-built 3D EM vessels.

For this third vessel, EMGS has secured a near-five month backlog of work, with an estimated value of $20 million. Atlantic Guardian will start its campaign in the North Sea in early May before heading to the Americas for further projects.

Roar Bekker, EMGS CEO, said: "It is exciting to see that recent technology innovations have expanded the application of 3D EM beyond traditional de-risking of drilling decisions and into areas like frontier scanning, shallow water applications, delineation and appraisal, as well as imaging of high resistive geological layers such as salt and basalt. We see these trends as a strong indication of increased industry adoption of our EM technology worldwide.

"The decision to mobilize a third crew is made in response to these developments and to the growing demand we are witnessing for our services.”

04/04/2011