EMGS secures letter of award worth $73.3m

EMGS secures letter of award worth $73.3m

Offshore survey specialist Electromagnetic Geoservices (EMGS) has won a letter of award from a major national oil company for a multi-year acquisition contract in a tender process.

The contract, which is on a call-off basis, has a minimum value of $29.3m and a maximum value of $73.3m, over a two-year period.

The company expects that final contract execution will take place within three weeks and it will mobilise survey vessel Atlantic Guardian for the project.

“This letter of award from a repeat customer, together with the on-going proprietary acquisition in south-east Asia, has secured backlog for both of the company’s vessels, providing a sound basis for two-vessel operation for the Company in 2019,” said Bjørn Petter Lindhom, CEO of EMGS.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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