Pemex Contracts EMGS to Determine Hydrocarbon Content

Mexican oil company Pemex has awarded EMGS a U.S. $10 million contract to determine the hydrocarbon content of deepwater drilling locations in the Gulf of Mexico. With pre-acquisition services expected to be completed in 2007, the electromagnetic imaging (EI) survey is expected to start in the first quarter of 2008.

"EMGS considers this as an important acceptance of our seabed logging technology," said EMGS CEO Terje Eidesmo. "PEMEX recognizes that our patent position in Mexico gives us a unique advantage in that market."

EMGS is a leader in seabed logging using deepwater electromagnetic imaging.