PEMEX contracts deepwater EM surveys

PEMEX has signed a multi-year contract with Electromagnetic Geoservices (EMGS) for deepwater 3D electromagnetic surveys in the Mexican sector of the Gulf of Mexico.

Offshore staff

OSLO, Norway --- PEMEX has signed a multi-year contract with Electromagnetic Geoservices (EMGS) for deepwater 3D electromagnetic surveys in the Mexican sector of the Gulf of Mexico.

The work program will comprise around 30 surveys. The purpose-built 3D EM vessel BOA Thalassa will perform the work, mobilizing towards the end of August for this season’s program.

EMGS expects to generate revenues from the contract this year of $20 - 25 million, with much of the remaining revenue (the company estimates a total of $150 million minimum) derived during 2011 and 2012.

Roar Bekker, EMGS chief executive officer, said: “We are confident that our 3D EM data will create significant value within Pemex’s portfolio, and, consequently, will support its efforts to improve the reserves replacement ratio offshore Mexico.”


07/07/2010

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