EMGS has received a Letter of Award (LOA) from North Energy ASA for a contract of NOK 20 million (USD 3.3 million) for 3D EM data acquisition over and in the vicinity of license PL 509 S in the North Sea.
“This contract means that EM is becoming accepted as an exploration tool in the North Sea and re-iterates that the application of the EM technology will be an integral part of North Energy’s exploration workflow,” said CEO of EMGS, Roar Bekker.
“We believe that the use of electromagnetic data, together with other advanced geophysical technologies, will considerably de-risk our exploration portfolio in the North Sea,” said SVP of exploration and business development of North Energy, Kristen Berli.
The survey is expected to commence mid-April, using the vessel Atlantic Guardian.
Contacts
Roar Bekker, EMGS chief executive officer, +47 73 56 88 10
Svein Knudsen, EMGS chief financial officer, +47 73 56 88 10
Charlotte Knudsen, EMGS head of investor relations, +47 97 56 19 59