An undisclosed customer intends to pre-fund survey company Electromagnetic Geoservices (EMGS) for a multi-client campaign in Namibia.
A joint venture block consortium, operating offshore Namibia, sent a letter of intent (LoI) to the Norway-based company. In a statment, the company valued the letter as being worth “a minimum value of $3.6 million”.
Under the terms of the LoI, the customer will pre-fund a multi-client controlled source electromagnetic (CSEM) data acquisition mission in the Walvis Basin. This will use EMGS’s deep-towed source DeepBlue, developed under a joint industry project involving Shell and Equinor.
EMGS will also provide data processing and integrated interpretation services.
CEO Bjørn Petter Lindhom said: “Securing this additional commitment in Namibia enables EMGS to convert an existing acquisition contract in Block 2113A, announced by EMGS in August 2019 with Nabirm Global, from a vessel of opportunity with backstop, to a firm survey commitment in 2020.
“We continue to engage with customers with a view to further expand the planned data coverage to provide a first-class CSEM dataset extending between the Walvis & Orange Basins, where several high impact, deep-water exploration wells are planned in 2020.”
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The consortium will decide the survey type and license fee within the first quarter of this year, using the vessel Atlantic Guardian.
EMGS will begin data gathering between 1 May and 1 August this year, subject to the signing of the final contract and regulatory permitting.
In June 2017, EMGS increased its investment in Sonardyne International’s Ranger 2 Gyro-iUSBL technology that can detect the presence of hydrocarbons in deepwater.