Norwegian owner Electromagnetic Geoservices (EMGS) said in a press note that it is currently engaged in the final stages of a contractual exchange for a proprietary data acquisition survey with an undisclosed customer.
The survey will take place in South America with an expected duration between one and two months.
The Company will be mobilising the Atlantic Guardian shortly, at the request of the customer. Under the terms of this request, the Company will, subject to certain conditions, be compensated for the mobilisation and demobilisation costs in the event no contract is awarded.
Subject to the contract being awarded, EMGS expects that the survey will commence in the fourth quarter of 2018.
EMGS uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation.
The Company's services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface.