Electromagnetic Geoservices ASA (EMGS) announces that the Company has entered into various agreements with oil companies involving data licensing (prefunding and late sales) related to 3D EM data in the Norwegian Sea and Barents Sea in Norway. The agreements represent revenues of USD 2.4 million.
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 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.
For more information, visit www.emgs.com
EMGS reports approximately USD 2.4 million in sales
| Source: EMGS