Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered into various agreements with oil companies involving data licensing (late sales) related to 3D CSEM data from the library in the Norwegian Sea and Barents Sea in Norway. The agreements represent revenues of USD 3.5 million.
Contact
Hege Veiseth, CFO, +47 99 21 67 43
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 explorationists 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.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
EMGS reports USD 3.5 million in late sales in Norway
| Source: EMGS