Norwegian seismic service provider Electromagnetic Geoservices (EMGS) has entered into its first acquisition contract related to renewable energy infrastructure.
Subject to the issuance by the undisclosed customer of certain notice to proceed orders, the contract has a value of up to approximately $2m. The contract does not include any minimum scope of work.
Under the contract, EMGS will acquire resistivity data based on the magneto-telluric geophysical method, which utilises the natural variations of the earth’s electromagnetic field without an artificial EM source.
The area of operations is in Southeast Asia, and the company will acquire the data based on a cost-efficient setup utilising a locally chartered vessel. Subject to the issuance of a notice to proceed order by the customer, EMGS expects to undertake the acquisition project in 2024.
“We are confident in our ability to deliver best-in-class data to the customer, and that this project will demonstrate that using EM data represents an attractive value proposition also outside of our core area of oil and gas exploration,” CEO of EMGS, Bjørn Petter Lindhom, said.
