Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered into agreements involving data licensing (prefunding and late sales) related to 3D EM data in the Barents Sea, Norway. The agreements represent revenues of approximately USD 3.7 million.
The use of 3D EM data allows our customers to reduce exploration uncertainty. EMGS is pleased to announce the execution of the above agreements, says Christiaan Vermeijden, CEO.
Contact
Hege Veiseth, EMGS Chief Financial Officer, +47 992 16 743
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company's services enable the integration of EM data with seismic and other geophysical and geological information to give exploration experts a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel.
EMGS operates on a worldwide basis with offices in Trondheim, Oslo, Houston, Villahermosa, Rio de Janeiro and Kuala Lumpur.
For more information, visit www.emgs.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.