EMGS awarded Marine Mineral survey offshore Norway
August 17 2022 - 10:48AM
EMGS awarded Marine Mineral survey offshore Norway
Electromagnetic Geoservices ASA ("EMGS" or the "Company") is
excited to be selected as the acquisition provider for the NTNU
ATLAB consortium. The consortium was formed to study geophysical
imaging of geological processes and has received funding from the
Norwegian Petroleum Directorate, Aker, CGG, Equinor and NTNU’s
Centre for Geophysical Forecasting.
The objective of the ATLAB consortium is to collect a broad
range of scientific data at the Mohn’s ridge, including CSEM, MT,
streamer seismic, node seismic, and both chemical and biological
data for environmental purposes. All data will be acquired using
the Atlantic Guardian.
EMGS has developed a deep-towed EM streamer system that has been
designed for marine mineral exploration. In addition to EM, the new
system serves as a platform for the collection of numerous other
data types close to the seabed.
The acquisition, which is currently ongoing, has a contract
value of approximately USD 1 million.
CEO of EMGS Bjørn Petter Lindhom comments
“We are excited to be chosen as the acquisition provider by the
consortium. The deep-towed EM system represents an important step
towards a more diversified product offering and positioning EMGS as
the provider of choice for the emerging marine mineral exploration
market. We believe the new system allows for the simultaneous
acquisition of seismic and EM data for the purpose of shallow
subsurface imaging, which could have applications in site surveying
for offshore wind installations.”
Contact Anders Eimstad, CFO, +47 948 25 836
This information is published in accordance with the Norwegian
Securities Trading Act § 5-12.
About EMGS EMGS, the marine EM market leader,
uses its proprietary electromagnetic (EM) technology to support oil
and gas companies in their search for offshore hydrocarbons. EMGS
supports each stage in the workflow, from survey design and data
acquisition to processing and interpretation. The Company's
services enable the integration of EM data with seismic and other
geophysical and geological information to give explorationists a
clearer and more complete understanding of the subsurface. This
improves exploration efficiency and reduces risks and the finding
costs per barrel. CSEM technology can also be used to detect the
presence of marine mineral deposits (primarily Seabed Massive
Sulphides) and EMGS believes that the technology can also be used
to estimate the mineral content of such deposits. The Company is
undertaking early-stage initiatives to position itself in this
future market.
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