EMGS enters into second prefunded multi-client contract in Indonesia

By Romel S. Gurky

Norway?s geophysical services company Electromagnetic Geoservices ASA (EMGS) said on Wednesday that a final contract has been entered into under the second Letter of Intent for the company to perform prefunded multi-client acquisitions offshore Indonesia.

The company said in a statement that contract has a minimum gross contract value of US$1.0 million, giving a combined minimum gross value for the two contracts of $2.8 million.

It was announced on November 16 that EMGS had received Letters of Intent for two contracts under which EMGS will perform prefunded multi-client acquisitions offshore Indonesia. The company announced on December 19 that that a final contract with a minimum gross contract value of $1.8 million had been entered into under one of the Letters of Intent.

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

Editing by Reiner Simanjuntak