Electromagnetic Geoservices ASA has been awarded a contract worth more than USD$5 million by a repeat customer in Malaysia. The work has commenced and EMGS is using new technology in water depths of approximately 60 meters.
Terje Eidesmo, EMGS President and CEO, said, "We have recently developed new technology that significantly broadens our market and operating window, enabling EMGS to perform surveys at virtually any water depth. Important hydrocarbon exploration opportunities remain in many shallow-water basins across the world, and we expect growing demand for our innovative technology in the future."
EMGS is assisting this client in the ranking of potential hydrocarbon reserves, as well as estimating volumes in several prospects.