EMGS has been awarded a contract to perform its Clearplay Evaluate service to appraise a hydrocarbon prospect
2008.08.30 -
Contracts
Electromagnetic Geoservices ASA (EMGS) has been awarded a contract with a new customer to perform its Clearplay Evaluate service to appraise a hydrocarbon prospect. The contract, which will be formally executed during the next days, is worth approximately USD 10 million. The electromagnetic (EM) survey will commence in September.
EMGS has also been awarded several smaller contracts worth in total USD 10 million by customers in Norway. A majority of these stem from a satisfying initiation of the Late Sales phase of the Barents Sea multi-client 3D EM project.
Terje Eidesmo, EMGS chief executive officer, commented: "We are pleased that so many companies are seeing the value of our multi-client services at this early stage in the Late Sales process. It is also great news that yet another large independent oil company will be using our game-changing technology to improve its hydrocarbon exploration performance and efficiency. This provides further evidence that EMGS is the undisputed EM market leader."
The Clearplay Evaluate data will be acquired using densely sampled, wide-azimuth 3D EM grids. The service, which integrates 3D seismic and other information, will improve the estimation of hydrocarbon volume and distribution.
"EM data from our Clearplay Evaluate service can reduce the number of appraisal wells drilled, thereby producing substantial cost savings for operators. The service significantly improves the speed and accuracy of prospect appraisal and enables the operator to establish, with greater certainty, whether the prospect contains commercially viable reserves," continued Eidesmo.
Cameron (NYSE: CAM) has signed a three-year worldwide preferred supplier agreement with Schlumberger Integrated Project Management (IPM) for the supply of a wide range of flow equipment products and services. As part of the agreement, Cameron will provide Schlumberger IPM with all surface, subsea, drilling, measurement, compression and downstream equipment on a worldwide basis.
ClampOn has been awarded a contract for delivery of five subsea ClampOn DSP Leak Monitors to the Tampen Link project in the Norwegian sector in the North Sea (Sept 07). ClampOn will supply its ultrasonic non-intrusive acoustic Leak Monitors to Technip Norge AS on behalf of Statoil. The Leak Monitors will be retrofitted on two 20” gas valves on the seabed to verify/disprove through-valve gas leakage. These valves are currently open and they will be shut to close off the bypass alternative.
Helix Energy Solutions (NYSE: HLX) announced today that it has received a Letter of Intent ("LOI") for the installation of the subsea infrastructure for the VIC/P44 Stage 2 Development project in the Otway Basin offshore Australia. Participants in the VIC/P44 permit are Santos Limited (Operator) 50%, Peedamullah Petroleum Pty Ltd (Australian Worldwide Exploration) 25% and Mitsui E&P Australia Pty Ltd. 25%.
Velosi Limited Velosi or the Group, a provider of asset integrity and HSE services to a number of major national and multinational oil and gas companies, is pleased to announce that it has been re-awarded a contract from Mobil Producing Nigeria, for the next three years with an option to extend for a further one year.
Fugro has been awarded a contract to perform a detailed marine survey in the Mediterranean Sea to select the best route for the GALSI gas pipeline from Algeria to Southern Sardinia and then from Northern Sardinia to the mainland of Italy. The contract value is approximately EUR 18 million.
