EMGS renegotiates seismic vessel terms

Offshore staff

TRONDHEIM, Norway – Electromagnetic Geoservices (EMGS) has signed a new charter agreement for the seismic acquisition vessel BOA Thalassa with owner BOA SBL.

The new, improved commercial terms are valid through Oct. 1, 2019, extendable to April 1, 2021. They include a reduction of around 20% in the charter hire rate.

Both parties have agreed to some additional flexibility during 2017. The new contract has a firm start on Oct. 1, but the vessel remains available to EMGS, on a project-by-project basis from the current contract’s expiry date of April 1.

In a separate development, EMGS and TGS-NOPEC have agreed to expand their cooperation agreement in the Barents Sea.

TGS is investing in a 3D controlled source electromagnetic data acquisition project for Norway’s 24th licensing round.

In addition, EMGS has concluded various sales of multi-client data in Norway with a total value of $2 million.

01/20/2017

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