Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered into agreements involving data licensing as well as processing and interpretation services related to 3D EM data in Norway and Mexico. The agreements represent revenues of approximately USD 2 million.
EMGS is pleased to announce the execution of the above agreements. We are excited about being given the opportunity by our customers to reduce their exploration uncertainty through the use of 3D EM data, says Christiaan Vermeijden, CEO.
Hege Veiseth, EMGS Chief Financial Officer, +47 992 16 743
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.