Demand for emgs' Seabed-Logging Technique Drives New Vessel Acquisition



Electromagnetic Geoservices AS (emgs) has commissioned a third survey vessel, the MV Sasha, to commence seabed-logging operations immediately after fitting out. The announcement, which underlines emgs' confidence in the continued and accelerated adoption of its proprietary seabed-logging technique, was made by Terje Eidesmo, president and chief executive officer at the International Exposition and 75th Annual Meeting of the Society of Exploration Geophysicists in Houston.

The additional survey capacity provided by the MV Sasha will help to meet increasing demand from energy companies keen to use the emgs technique. This method identifies subsurface resistivity anomalies, including commercial-scale hydrocarbon reservoirs, without drilling a well. On leaving Trondheim, Norway, at the end of November, the vessel will be positioned to start a long-duration survey for a new emgs customer.

The vessel joins two others in the emgs fleet, the MV Geo Angler, which has been in continuous service with emgs since mid-2003, and the MV Atlantic Guardian, also in continuous service since being commissioned in May 2005. The new vessel will be operated by seasoned emgs crew members with wide experience of the survey techniques gained over three years of operations.

Mobilization of the vessel has been facilitated by the modularity of the latest proprietary emgs survey equipment, which has been specifically designed to be rapidly deployed on any suitable dynamically positioned vessel. Onboard processing capabilities ensure real-time data quality control and preprocessing of data that contribute to fast delivery and turnaround of data by the expert interpretation team at emgs' Trondheim headquarters.

"Everyone at emgs is excited about the launch of our third survey vessel. It underscores the robust commercial success of our seabed-logging technology," said Erik Skogen, vice president of operations at emgs. "We pride ourselves on having developed custom-designed equipment that can be quickly mobilised to almost any dynamically positioned vessel. This enables us to deliver cost-effective and operationally efficient marine electromagnetic survey solutions to oil and gas companies anywhere in the world. In mobilising the MV Sasha we are continuing our track record of excellent response to our customers' requirements. The vessel will deliver the additional capacity they are asking for, while maintaining our high standards of service. In this way, we intend to give our customers a competitive advantage in finding commercial hydrocarbons in offshore basins."

Over 100 seabed-logging surveys have been conducted in the three years since emgs recorded its first commercial survey. The technique has been used by more than 20 oil companies, including Apache, Eni, Petrobras, Shell, Statoil and Woodside, in water depths ranging from 3100 m to less than 200 m, and in regions as varied as offshore west Africa and Brazil and the Mediterranean, North and South China seas. In every area where a well has been drilled, data acquired from wellbore surveys has corroborated emgs' survey predictions.

"Our seabed-logging technology is changing the economics of finding hydrocarbons," said Eidesmo. "Not every promising structure seen by seismic surveys contains oil, but when the additional information provided by seabed-logging indicates hydrocarbons, the combination of the two techniques offers compelling evidence of commercial reserves. Operators are using seabed-logging data to bid with increased confidence during licensing rounds, to improve their prospect ranking and to make better-informed drill-or-drop decisions during appraisals."
RELATED COMPANIES
Company: Apache Corp. more info
Operates 3 Offshore Rigs
 - Ancala Acquires Apache's Two North Sea Gas Pipeline Assets (Nov 20)
 - Apache Raises North America Output Forecast, Swings To Profit (May 04)
 - Oil Producer Apache Posts Smaller-Than-Expected Loss (Nov 03)
Company: Petrobras more info
Operates 35 Offshore Rigs
Manages 13 Offshore Rigs
 - Natural Gas In Petrobras Pipelines Up About 23% In 2017 (Dec 05)
 - Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO (Nov 15)
 - Ex-SBM Executives Plead Guilty In US To Petrobras Bribe Charges (Nov 09)
Company: Shell more info
Operates 27 Offshore Rigs
 - Shell Looks Beyond Road Fuels to Secure Future of Refining (Nov 06)
 - API Panel Member: Voluntary Methane Program Forthcoming (Oct 06)
 - Eni Bets Big on Zohr Explorer Finding New Treasure (Oct 06)
Company: Statoil more info
Operates 1 Offshore Rigs
 - Sharp Fall In Applications For Norway's Arctic Oil Permits (Dec 05)
 - Statoil Greenlights $6B Flagship Arctic Oil Project (Dec 05)
 - Partners to Invest in New Gas Module at Troll C Platform (Nov 07)
Company: Woodside more info
Operates 3 Offshore Rigs
 - Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
 - Global LNG: Faltering Supply Prompts Short-Covering Price Rally (Aug 11)
 - Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)
Company: ENI more info
Operates 11 Offshore Rigs
 - Italy Prosecutors Probe Eni For Tax Evasion At Refineries (Nov 22)
 - Officials: BP, Eni Interested In Developing Iraq's Majnoon Oilfield (Nov 20)
 - Eni's Giant Gas Field Prompts Egypt to End Imports in 2018 (Nov 15)
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)