EMGS Gets Prefunding for a Multi-client Survey Offshore East Canada
Norwegian geophysical services company Electromagnetic Geoservices ASA (EMGS) on Monday announced it secured $2 million in prefunding for a multi-client survey offshore Newfoundland and Labrador.The acquisition is expected to take place in late third quarter 2022, EMGS said, noting the contract is conditional upon securing the required permits in Canada prior to September 2022.The said it expects to recognize the revenue in the fourth quarter of this year.
OFG, EMGS Enter Cooperation Agreement
Ocean Floor Geophysics Inc (OFG) and Electromagnetic Geoservices ASA (EMGS) signed a cooperation agreement under which the two companies agree to work together on various projects to promote the use of marine CSEM technology.The agreement places specific emphasis on exploiting the obvious synergies between the state-of-the-art towed-streamer CSEM system from OFG (under its exclusive right to acquire the PGS EM technology) and the industry-leading sea-bottom CSEM/MT nodal system from EMGS. Cooperation will include development of proprietary and multi-client surveys, and multiphysics reprocessing of
Offshore Surveyors OFG, EMGS Enter CSEM Tech Pact
Canadian offshore survey firm Ocean Floor Geophysics (OFG) and its Norwegian counterpart Electromagnetic Geoservices ASA (EMGS) have signed a cooperation agreement.Under the agreement, the two offshore surveyors have agreed to work together on various projects to promote the use of marine controlled-source electromagnetic (CSEM) technology."The agreement places specific emphasis on exploiting the obvious synergies between the state-of-the-art towed-streamer CSEM system from FG (under its exclusive right to acquire the PGS EM technology) and the industry-leading sea-bottom CSEM/MT nodal system
EMGS Wins BP Survey Off Senegal
Norwegian geophysical services company Electromagnetic Geoservices ASA (EMGS) has been awarded a contract by UK oil and gas major BP for work off the coast of Senegal and Mauritania.EMGS said in a in Oslo Exchange filing that the contract is worth around $6 million. The survey work is expected to start in the first quarter of 2020.CEO of EMGS, Bjørn Petter Lindhom, said, “EMGS is delighted to return to Africa and for the opportunity to work for BP and partners on their high-profile acreage in Mauritania and Senegal.""This contract extends our already healthy backlog and puts us
EMGS Kicks Off Barents Sea Survey
Electromagnetic Geoservices ASA (EMGS) announced Thursday it has entered into an agreement for a fully prefunded multiclient 3D controlled source electromagnetic (CSEM) survey in the Norwegian Barents Sea.The contract has a value of $1.25 million, EMGS said.The company said it will mobilize the vessel Atlantic Guardian for the survey, which is expected to be executed in the second quarter of 2019.
Gardline Names Vermeijden CEO
has appointed Christiaan Vermeijden as Chief Executive Officer, effective immediately. Vermeijden will replace Gardline's current interim CEO, Gerben Eggink.Vermeijden joins the U.K. based Royal Boskalis Westminster N.V. subsidiary after leaving his position as CEO at Norway-based Electromagnetic Geoservices ASA (EMGS). Prior to his role with EMGS, he was part of the Executive Management Team and Global Offshore Geotechnical Director at Fugro N.V.He holds a Master of Science (MSc) degree in Physical Geography from the University of Amsterdam and a Master of Business Administration (MBA) from
EMGS, TGS Expand Cooperation In Barents Sea
Electromagnetic Geoservices ASA (EMGS) and TGS-NOPEC Geophysical Co ASA (TGS) have agreed to expand the companies' cooperation agreement in the Barents Sea. TGS will be investing in a 3D CSEM data acquisition project related to the 24th licensing round in Norway. The contribution from TGS will be booked as a reduction of the carrying value of EMGS' multi-client library. In addition, EMGS reports late sales of multi-client data in Norway. The above agreements total USD 2 million. This will be recognised in the first quarter of 2017.
EMGS' Vessel Utilisation Soars
Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on contracted or multi-client data acquisition. Downtime (technical or maritime) and some standby activities are not included in the utilisation. Vessel utilisation for the fourth quarter 2016 came in at 89% compared with 21% for the fourth quarter in 2015. For the full year 2016, the vessel utilisation was 70%, whereas the utilisation for the full year 2015 year
EMGS secures Malaysia Contract
Electromagnetic Geoservices ASA (EMGS) confirmed that a firm contract has been entered into with an oil company in Malaysia. This contract confirms the provisional agreement announced in the stock exchange notice of 1 November 2016. As previously announced, this contract extension is worth approximately USD 8 million. The agreement relates to a 3D EM data acquisition offshore Sabah, East Malaysia. The vessel BOA Thalassa will perform the survey which is estimated to take approximately two months with an expected completion date early January 2017.
February 2024
