EMGS Signs Barents Sea Contract

Laxman Pai
Thursday, April 4, 2019

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.

Categories: Geospatial Geophysics Survey Geoscience Contracts

Related Stories

Lottery System to Decide Who Wins Rights to Giant Danish Offshore Wind Farm

U.S. Interior Department Set to Release Federal Oil Leasing Review

Australian Parliament Clears Way for Offshore Wind Farms

Current News

Gas Price Windfall Makes Gazprom Patient Over Nord Stream 2 Delay

Carbon Transition in Utsira Multi-Client Seismic Data Deal

'Repeat Customer' Taps Magseis Fairfield for Gulf of Mexico OBN Survey

3i to Assume Full Control Over Danish Offshore Vessel Owner ESVAGT

Subscribe for OE Digital E‑News