EMGS wins Saudi exploration contract
Khobar (Saudi Arabia) , February 2, 2011
Electromagnetic Geoservices (EMGS), a leading player in the marine electromagnetic market, has been awarded a Read Sea exploration contract through its Saudi agent, the Shoaibi Group.
A leading player in the marine electromagnetic market, EMGS has conducted more than 500 surveys to improve drilling success rates across the world's mature and frontier offshore basins, said a statement from Shoaibi Group.
EMGS uses its proprietary EM technology to support oil and gas companies in their search for offshore hydrocarbons.
As per the contract, the vessel BOA Galatea will acquire both 3D electromagnetic (EM) and magnetotelluric (MT) data in the Red Sea over a three-month period. Mobilization is expected in the early part of the second quarter, this year.
Roar Bekker, EMGS chief executive officer, said, 'We are delighted to have secured this contract as the Red Sea project is, to our knowledge, the largest combined 3D EM and MT survey ever undertaken.'
'We see this as an endorsement of our technical and operational capabilities, providing further evidence that EM is becoming an established exploration tool,' he noted.
Khalid Al Shoaibi, group director of Shoaibi Group, said: 'We are extremely pleased to have been part of this significant contract being awarded to EMGS. This further manifests our ability to recognize and introduce the latest innovative technology companies to the oil, gas petrochemicals sector in in Saudi.'
Headquartered in Al Khobar, Shoaibi has operations and investments across the Middle East region and extends to North Africa, Europe, and North America.
Shoaibi offers dedicated marketing, technical and commercial expertise and support that encourages the development of innovative technology mainly to create business growth and shared opportunity.-TradeArabia News Service