Electromagnetic Geoservices ASA ("EMGS" or the "Company") has entered into multi-client prefunding and various service agreements. The agreements represent combined revenues to the Company of approximately USD 2.2 million.
The prefunding revenue is related to 3D CSEM multi-client data surveys in the North Sea using the DeepBlue source. The surveys are expected to be executed in Q2 and / or Q3 2018.Contact
Hege Veiseth, CFO, +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
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.