EMGS wins long-term seismic services contract
Electromagnetic Geoservices has secured a letter of award from a major oil company for a multi-year call-off seismic acquisition contract.
The value could range from $29.3-$73.3 million, depending on the services performed.
EMGS will mobilize theAtlantic Guardian for the project.
CEO Bjørn Petter Lindhom said the award “gives us confidence that our strategy of integrating CSEM into oil companies’ exploration workflow is on the right track.
“More and more oil companies’ realize that CSEM [controlled source electromagnetic] is an important tool for reducing exploration risk and cost, with an attractive ROI when used correctly.”