Offshore staff
TRONDHEIM, Norway –Electromagnetic Geoservices ASA has signed a contract to apply seabed logging to a prospect offshore Libya. The exploration is scheduled to begin before year end. The initial contract value is $6 million, with extension options up to another $10 million.
"Offshore Libya is re-emerging as an important frontier for international oil and gas companies, and this contract is the first of its kind in this area," says Terje Eidesmo, EMGS president and CEO. "Our client is highly respected in the industry, and we are pleased that EMGS has been chosen once again as a key enabler in the forefront of their strategic exploration activity. These factors reinforce our position as the market leader in the rapidly growing electromagnetics sector and confirm the role of seabed logging is an important exploration technology in the global search for hydrocarbons."
10/22/2007
