EMGS Secures More Cash for 3D EM Survey in US Gulf of Mexico

Electromagnetic Geoservices ASA (EMGS) has received additional pre-funding for the ongoing Daybreak 3D multi- client electromagnetic survey in the Alaminos Canyon protraction of the US Gulf of Mexico.

The survey started on 22 February and is expected to be completed mid-June with integrated data delivery starting in June. The survey has strong industry funding.

“We are very pleased with the initial industry interest for this project. The strong level of pre-funding confirms both the project potential and the importance of the US Gulf of Mexico as a new multi-client area for us.

We have extensive experience from working with Pemex just south of this area, so we are excited to use this opportunity to further extend our experience along the Perdido trend,” says Roar Bekker, CEO of EMGS.

“Based on existing 2D data provided by TGS, we will, for the first time in the US, deliver both fully integrated 3D EM products as well as using the EM data to further define salt and structural features to provide a better subsurface image in the region. We are optimistic about the upcoming Western Gulf of Mexico lease sale and excited to show how our EM data can improve leasing decisions for new customers,” says David Hicks, President, Western Hemisphere EMGS.

The Daybreak project is the first phase of a planned multi-year program in the US Gulf of Mexico for EMGS. This phase is expected to cover approximately 80 blocks.

EMGS, May 2, 2014

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