Electromagnetic Geoservices ASA (“EMGS” or the “Company”) has entered into late-sales multi-client licensing agreements related to its existing multi-client library in Norway. These agreements represent combined revenues of approximately USD 1.2 million.
The Company will recognise the revenue in the fourth quarter of 2020.
Anders Eimstad, EMGS Chief Financial Officer, +47 948 25 836
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.
For more information, visit www.emgs.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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