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EMGS Receives LOI for 3D EM Survey in Asia

Source: www.gulfoilandgas.com 1/17/2013, Location: Europe

EMGS has received a Letter of Intent for a contract totalling approximately six months of 3D EM data acquisition in Asia. Reference is made to the updated vessel schedule published on 7 January 2013, where EMGS (Electromagnetic Geoservices ASA) stated that the company is in advanced stages of negotiations regarding contracts totalling approximately six months of work in Asia.

Final confirmation and award of the program is dependent on the customer's internal Tender Board approval.

It is expected that the 3D EM survey program will be performed using the vessel BOA Thalassa with start-up in the first quarter of 2013.

"We expect to deploy both the EM Leader and BOA Thalassa in Asia for most of 2013 based on our substantially improved backlog as well as additional demand from both new and existing customers," said Roar Bekker, CEO of EMGS.

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