First Non-exclusive Multi-client Agreement signed with M/s Electromagnetic Geoservices ASA, Norway under Policy for Geo-scientific Data Generation for Hydrocarbons in Indian Sedimentary Basins.
Government of India has approved the Policy for Geo-scientific Data Generation for Hydrocarbons in Indian Sedimentary Basins and the Agreement to carry out Non-exclusive Multi-client Geo-scientific Surveys/Activities relating to Hydrocarbons on 20.05.2014. Under this Policy the survey activities is to carried out by the Service provider at its own cost& operation risk and the Geo-scientific data will be generated at no cost to Government of India.
Under the above said Policy, M/s Electromagnetic Geoservices ASA, Norway has signed Non-exclusive Multi-client Agreement on08.09.2015 at MoP&NG to carry out 10079.96 LKM Marine CSEM (Controlled Source Electromagnetics) & MMT (Marine Magneto-Telluric) Data Acquisition, Processing, Inversion and Interpretation studies by deploying their state-of-the-art and proprietary technology from Kutch-Saurastra Basin to Mumbai Offshore Basin in West Coast India.
Joint CSEM and MT analysis can provide sub-surface geological understanding, identification of new leads and reduce drilling risk.The Survey is planned to start before the end of this year and will be completed within two years time.
