Offshore survey service provider Electromagnetic Geoservices has received a letter of intent, with a minimum value of $3.6m, from an undisclosed customer on behalf of a JV block consortium, offshore Namibia.
Under the terms of the pending data licensing agreement, a final survey option type and license fee is expected to be determined by the customer within the first quarter.
The letter of intent will see the customer pre-fund a new multi- client CSEM data acquisition in the Walvis Basin using EMGS’s next generation DeepBlue, a deep-towed source developed under a joint industry project involving Shell and Equinor.
Additionally, EMGS will provide data processing, inversion with 3D Gauss-Newton and integrated interpretation services.
The survey acquisition is expected to commence between May 1 and August 1 using the vessel Atlantic Guardian.
“We’re delighted to receive this letter of intent for a multi-client campaign in the Walvis Basin. Securing this additional commitment in Namibia also enables EMGS to convert an existing acquisition contract in Block 2113A, announced by EMGS in August 2019 with Nabirm Global LLC, from a vessel of opportunity with backstop, to a firm survey commitment in 2020,” said Bjørn Petter Lindhom, CEO of EMGS.