Fugro take stake in Russian electro magnetic service provider EMMET
2008.03.04 -
Company News
Fugro has reached agreement with Electro Magnetic Marine Exploration Technologies (EMMET), Russian Federation, to acquire 60% of EMMET’s shares, for an amount of EUR 10 million. Fugro will also have the exclusive option to purchase the remaining shares.
EMMET has offices in St. Petersburg and Moscow in the Russian Federation and is a technology developer and provider of marine electromagnetic services for hydrocarbon exploration. Electrical and electromagnetic methods have been used for natural resource exploration in the Russian Federation for decades and EMMET has benefited from this pedigree in creating a group of technical specialists with a background in marine applications. Fugro will augment EMMET’s expertise with its marine operational and navigation capabilities in providing marine electro-magnetic services.
With this acquisition Fugro further strengthens its general geophysics business of non-seismic geophysical methods. This includes marine electromagnetic, gravity and magnetic methodologies as well as the existing suite of airborne and land-based methods presently operating within the Airborne Survey business line.
The recently announced acquisition of the Falcon® airborne gravity gradiometry technology will also form part of this group.
Petroleum Geo-Services ASA ('PGS' or the Company) announced today that it has entered into a definitive agreement to acquire Applied Geophysical Services, Inc. (AGS) for a price of USD 51 million, subject to certain adjustments for changes in working capital. PGS estimates an enterprise value for AGS of approximately USD 46 million. AGS is based in Houston, Texas and specializes in providing advanced depth imaging services. The transaction is expected to close during the course of this week.
Total announces the acquisition of a 40% interest in three exploration permits northeast of Ichthys on the Australian Browse Basin jointly with Inpex (60%, operator). These interests were held by ConocoPhillips. This acquisition is subject to the approval of the Australian authorities.
Rowan Companies, Inc. (NYSE:RDC) announced today that it has entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010.
Gaz de France has acquired a 45% stake in the Alam El Shawish West licence in Egypt from Vegas Oil & Gas.
Trico Marine Services, Inc. (NASDAQ: TRMA) ("Trico") and Active Subsea ASA (NOTC: ASUB) ("Active Subsea") today announced that Trico intends to make a voluntary offer for all outstanding shares, options and warrants of Active Subsea.
