EMGS pins hopes for data sales on Norway license round

EMGS sees mixed signs ahead for the offshore seismic acquisition market.

Offshore staff

TRONDHEIM, NorwayEMGS sees mixed signs ahead for the offshore seismic acquisition market.

The outlook for oil services remains characterized by high uncertainty, with the industry planning a further decrease in E&P spending for 2017.

However, EMGS has detected a rise in commercial activity, and with its reduced cost base the company claims to be in better shape than it was a year ago.

It expects Norway’s 24th licensing round to trigger some sales of its electromagnetic survey data during the first half of the year. Otherwise, the company is continuing efforts to secure more work offshore Asia and the Americas.

It remains in discussions to commercialize, subject to survey commitments, the Advanced CSEM (controlled source electromagnetic) system developed under a joint industry project.

At present EMGS expects to operate two vessels this year, with one likely to remain in Asia while the other operates offshore Europe and the Americas.

It also plans to continue to invest in itsmulti-client library in selected areas.

02/09/2017

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