EMGS to kickstart flagship ocean bottom node seismic survey offshore Norway
(WO) – Electromagnetic Geoservices ASA has entered into an agreement for a fully pre-funded offshore Ocean Bottom Node (OBN) seismic survey in the Barents Sea. This survey, which will be undertaken in collaboration with Velocitas Geo Solutions, marks EMGS' first venture into seismic node projects.
The survey, set to commence in the third quarter of 2024, will be conducted using the Atlantic Guardian and is expected to take approximately two weeks to complete. The total contract value, prior to revenue share, is approximately $1 million.
EMGS aims to leverage this project to gain experience and evaluate the potential of incorporating seismic node services into its portfolio. This move aligns with the company's strategy to diversify its offerings and enhance vessel utilization.
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. This improves exploration efficiency and reduces risks and the finding costs per barrel.
