EMGS signs Pemex contract

Electromagnetic Geoservices ASA (EMGS) signed a contract with PEMEX worth US$99.8 million to conduct a 3D electromagnetic (EM) survey in the Gulf of Mexico.

"We have over the last few years reinvigorated our exploration organization and embraced technologies that give us an advantage. This has resulted in a boost in our reserve replacement ratio and 3D EM data has been an important part of our recent exploration success," Pemex said of the new contract.

EMGS expects the 3D EM data acquisition to start in early September 2013, following mobilization of the vessel BOA Galatea in late August.

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