EMGS formalizes second contract award off Indonesia

Norwegian geophysical services company Electromagnetic Geoservices (EMGS) has received another contract for a prefunded multi-client acquisition offshore Indonesia.

EMGS received letters of intent for two contracts for prefunded multi-client acquisitions offshore Indonesia in mid-November. The LOIs represented a combined minimum gross contract value of $2.8 million.

The company entered into a final contract under one of the letters of intent on Tuesday. The contract has a minimum gross contract value of $1.8 million.

On Wednesday, EMGS said it entered into a final contract under the second letter of intent. According to the company, the contract has a minimum gross contract value of $1 million, giving a combined minimum gross value for the two contracts of $2.8 million.

Both surveys will be executed using the vessel BOA Thalassa, with an expected start-up in December 2017 and completion in January 2018.