Electromagnetic Geoservices (EMGS) has signed an agreement for its second full-scale CSEM well calibration study project in cooperation with Equinor.
The revenue associated with this second well calibration study is expected to be approximately $1 million over a one-year period.
The objective of these well calibration studies is to provide global learning and experience integrating CSEM data from EMGS’ global multi-client library with seismic- and well data, thereby allowing the company’s customers to better understand and assess for each opportunity going forward whether and how CSEM should be applied to further de-risk their exploration portfolios.
CEO of EMGS, Bjørn Petter Lindhom, said: “We are very excited and proud that another one of our customers has decided to carry out a well calibration study in cooperation with EMGS. Through such a study, Equinor’s own personnel can add to their understanding of, and verify when and how, CSEM provides added value.
“We are confident that customers who undertake such a study will achieve an even better understanding of the value of CSEM information, and the added returns and reduced costs which can be achieved when using the product, thereby strengthening their willingness to invest in such information.”