EMGS: Contract award
Friday 26 March 2021
Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce that the Company has been awarded a 3D CSEM contract in Southeast Asia. This is EMGS's first CSEM data acquisition contract with this customer.
The Company expects that the acquisition will take place in the beginning of Q3 2021. The expected contract value is between USD 6 and 7 million, dependent on certain options for the customer.
The survey will be acquired using the Atlantic Guardian following the multi- client acquisition in Mexico. This will necessitate a rescheduling of the previously announced prefunded Utsira High multi-client survey in Norway until early Q4 2021.