PetroMarker finalizes contract with Spring Energy AS for EM survey work on the NCS.

Spring Energy, a Norwegian exploration oil company, has awarded PetroMarker a contract for the acquisition of EM data on the Norwegian Continental Shelf (NCS).

The EM data, gathered with PetroMarker’s proprietary marine vertical EM technology (TEMP-VEL), will provide Spring Energy with an additional evaluation tool on their prospects.

This work is part of the Norwegian campaign started with the newly mobilized vessel “Volstad Surveyor”.

The contract is signed for a number of locations and caters for optional work.

Bengt Magnussen, PetroMarker’s Contract Manager, indicated that “this new contract confirms the emergence of Petromarker’s technology as a suitable tool for oil and gas offshore exploration. It also demonstrates Spring Energy pro-active attitude in seeking the best available sources of exploration and appraisal information”

The parties have agreed to keep locations, duration and price confidential.

Tags: PetroMarker AS