Norwegian offshore survey firm Electromagnetic Geoservices (EMGS) has signed a final contract withSpirit Energy Norway AS for a survey in the Barents Sea offshore Norway.
According to a stock exchange notification by the geophysical services company, it received a multi-client letter of intent with an approximate value of USD 2.5 million.
"EMGS and the customer, Spirit Energy on behalf of the PL1031 license group, have today entered into a final contract under the letter of intent," it said.
Following an extension of the scope of work, the final contract value is approximately USD 3.4 million.
The vessel Atlantic Guardian has started mobilisation for the survey. It is expected that acquisition will commence early April and be completed within the second quarter of 2019.
Spirit Energy is the operator of the recently awarded Barents Sea block with 40 percent ownership. Its partners in the license are Petoro, Aker BP, Equinor.