As previously announced, Electromagnetic Geoservices ASA (EMGS) has issued claims against Petroleum Geo-Services (PGS) in the High Court of Justice, Patent Court, in London, UK, and in Norwegian courts on the basis that PGS used its Towed Streamer EM in the territory of the United Kingdom, Ireland and Norway in violation of one of EMGS' patents. On 13 February 2015, EMGS received the decision of the Oslo City Court where EMGS' patent is found to be invalid. EMGS has decided to appeal the decision.
EMGS successfully defended the patent against claims of invalidity from Schlumberger Holding Ltd in the Netherlands, in February 2008 and in the UK Court of Appeal in July 2010 and through several oppositions in the European Patent Office appeal division in December 2011. The decision of the Oslo City Court on validity of this patent is contrary to these previous international decisions all made by specialized patent judges. The patent remains valid in 23 countries.
Contacts
Svein Knudsen, Chief Financial officer +47 911 41 149
Charlotte Knudsen, Head of investor relations, +47 97561959
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 main offices in Trondheim and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia.
For more information, visit www.emgs.com