EMGS Secures US$6 Million Contract from Super Major

Electromagnetic Geoservices ASA (EMGS) has secured another contract with one of the world's leading energy companies to determine the hydrocarbon content of potential reservoir structures offshore Libya using seabed-logging technology.

This frontier exploration program is expected to start before the year-end. The contract is worth about USD 6 million and includes extension options of up to an additional USD 10 million, if exercised.

Terje Eidesmo, EMGS president and chief executive officer, said: "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. 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."

Related Companies
 Company: Electromagnetic Geoservices ASA (emgs)more info
 - EMGS Secures Contract Extension With Malaysian Oil Company (Nov 17)
 - EMGS Confirms Further Staff Cuts (Oct 17)
 - EMGS Confirms Staff Cuts (Apr 14)

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Frac Equipment Operator
Expertise: Coil Tubing|Fracturing
Location: Midland, 
CAD Drafter
Expertise: CAD / CAM|Drafting|Engineering Technician
Location: Katy, TX
Senior Operator 1 - Slickline
Expertise: Slickline
Location: Kenai, AK
search for more jobs

Brent Crude Oil : $55.62/BBL 0.27%
Light Crude Oil : $49.89/BBL 0.00%
Natural Gas : $3.02/MMBtu 1.30%
Updated in last 24 hours