Electromagnetic Geoservices ASA (EMGS) has been awarded a contract by a major exploration and production operator to provide 3D electromagnetic (EM) data acquisition services offshore Newfoundland, Canada. The contract is expected to generate revenues of minimum US $12 million in the second and third quarters of 2009. The 3D EM data will be acquired by the MV Siem Mollie.
Roar Bekker, EMGS acting chief executive officer, commented, "We value our long-term relationship with this supermajor, and we are proud that EMGS has been asked to continue the work we started in this area in 2006. The customer has become one of the world's leading users of 3D EM and is applying our technology as an integrated part of its frontier exploration program and workflow, thereby reducing risk in a challenging exploration environment."
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