Geology & Geophysics
Equatorial Guinea a global player in oil & gas
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Equatorial Guineas oil deposits have ranked it third amongst sub-Saharan African oil producing countries. It is leading the way in Africa in the monetisation of its gas reserves, while other countries are still flaring most of their gas. Government policies in the sector are fuelling an investment climate that is attracting a tremendous amount of international interest in the opportunities in the oil & gas sector.
ELECTROMAGNETIC GEOSERVICES ASA (EMGS) awarded multi-year contract by big player
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ELECTROMAGNETIC GEOSERVICES ASA (EMGS) has been awarded a multi-year contract worth a minimum of US$150mn by one of the world's largest oil companies. The 3D EM campaign will employ one of EMGS's purpose-built 3D EM vessels continuously throughout the duration of the contract period, providing substantially improved vessel utilisation levels.
Formal finalisation of contract and contract signature is expected imminently, with vessel mobilisation towards the end of August. EMGS anticipates that the contract will generate 2010 revenues in the range of US$20-25mn, and that the remaining contract value will be recognised in 2011 and 2012.
BOS continues Africa '10 seismic campaign
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THE BOS ARCTIC will acquire a number of 3D programs in Cameroon for Euroil (A Bowleven Company) using a six streamer configuration.
Foster Wheeler wins oil refinery feasibility study in Uganda
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FOSTER WHEELER AG's Global Engineering and Construction Group has been awarded a contract by the Ugandan Government to undertake a feasibility study for the development of an oil refinery with a capacity of up to 150,000 bpd in Uganda.
Geotrace completes onboard data processing offshore
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GEOTRACE HAS COMPLETED one of the world's largest onboard data processing projects for BP, as operator in its EPSA 4 NOC/LIC/BP exploration contract in BP's Sirte Basin concession off the coast of Libya.
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