Electromagnetic Geoservices ASA (“EMGS” or the “Company”) is pleased to announce that the Company has been awarded a contract from Petrobras for a fully prefunded multi-client survey offshore Brazil.
Electromagnetic Geoservices ASA (“EMGS” or the “Company”) is pleased to announce that the Company has been awarded a contract from Petrobras for a fully prefunded multi-client survey offshore Brazil.
The survey is expected to start late March or early April 2024. The total contract value is approximately USD 11.7 million. CEO of EMGS, Bjørn Petter Lindhom, comments: “We are delighted to return to Brazil for EMGS’ first acquisition project offshore Brazil in almost 10 years. As 2023 marked a year with little acquisition activity for EMGS, we are very pleased and encouraged by a notable increase in the number of active and mature customer discussions for acquisition projects in 2024. Based on these early signals, we are optimistic that 2024 will be a good and active year for EMGS. In addition to this project offshore Brazil, we currently expect that there will be several acquisition projects on the Norwegian Continental Shelf this year.”